Sterling: Sterling Organization Sells Roswell Village Shopping Center for $38.3 Million

Sterling Organization, a private equity real estate investment firm, has announced the sale of the Roswell Village Shopping Center located in Roswell, GA (Atlanta MSA) for $38.3 million. The property was initially acquired by Sterling in 2014 for $10.55 million. During its tenure of ownership, Sterling managed to significantly reposition and re-tenant the shopping center, which was initially operating at 31% occupancy at the time of acquisition. Through strategic efforts, the occupancy was increased to 94% at the time of the sale. The center was anchored by notable tenants such as Ross Dress for Less, Marshalls, and Crunch Fitness. Sterling Organization attributes much of this success to its team, and expressed gratitude towards Jim Hamiltons team at JLL for their contribution to the transaction process. Moving forward, Sterling maintains a proactive acquisition strategy with over $1 billion in buying power, owning and managing 74 properties valued at over $2 billion across the United States.