The property is currently anchored by a 28,809 square-foot Auto Zone, a 13,362 square-foot Dollar Tree and is shadow anchored by a 102,000 square-foot Home Depot.
WEST PALM BEACH, FL / ACCESSWIRE / June 19, 2024 / Sterling Organization, a vertically integrated private equity real estate investment firm whose national platform is focused on investing in retail and LAST HOUR® consumer fulfillment and distribution real estate assets, has announced the sale of Roswell Market Center. The property, which sits at 1580 Holcomb Bridge Road, Roswell, GA 30076 (Atlanta MSA), was acquired by an Investment Fund managed by Sterling for $8.63 million.
1580 Holcomb Bridge Road, Roswell, GA 30076 (Atlanta MSA)
Roswell Market Center is currently anchored by a 28,809 square-foot Auto Zone, a 13,362 square-foot Dollar Tree and is shadow anchored by a 102,000 square-foot Home Depot. The property is located 20 miles north of downtown Atlanta at the northwest corner of Holcomb Bridge Road and Holcomb Woods Parkway, with more than 78,000 people living within a 3-mile radius with an average household income of over $166,000.
"We are very pleased with the outcome of this deal from a financial perspective. Our team has worked tirelessly to transform Roswell Market Center into an energized, thriving, retail asset. We are proud of the job our team has done growing occupancy to 97% after having purchased the property at 55% leased," said Brian Kosoy, Managing Principal, President and CEO of Sterling Organization.
"We'd like to thank Jim Hamilton and the JLL team for their assistance with this transaction. We wish the purchaser all the best with this great asset. They were a great group to work with and we are grateful for their professionalism throughout," added Jordan Fried, Principal of Sterling Organization.
Sterling Organization, and its affiliates, own and manage 72 properties across the U.S. with more than 12 million square feet of primarily retail real estate across the U.S. worth over $2 billion in value.
Contact Information
Dana Verhelst
SVP, Marketing
dverhelst@sterlingorganization.com
+15618127476
SOURCE: Sterling Organization
View the original press release on newswire.com.
