Sterling Organization, a vertically integrated private equity real estate investment firm headquartered in West Palm Beach, Fla., announced it has acquired Merchants Walk, a 271,992-square-foot, Whole Foods Market-anchored shopping center in Marietta, Ga. (Atlanta Metropolitan Statistical Area). Sterling Organization acquired the property from EDENS, an owner, developer and operator of open-air retail and mixed-use properties, for $93.2 million. The investment was made on behalf of Sterling’s $600 million equity institutional value-add fund, Sterling Value Add Partners IV (SVAP IV).
Merchants Walk is 90 percent leased and anchored by a high-performing Whole Foods Market, which has operated at the property since 2011, alongside a strong lineup of co-anchors including Marshalls, PetSmart, Old Navy, DSW, Ulta Beauty, Office Depot and Georgia Theater Company Stadium Cinemas, and is shadow-anchored by Kohl’s. The property, which contains 26,000 square feet of vacant space, sit
