{"id":1004151525,"date":"2016-09-05T04:01:10","date_gmt":"2016-09-05T12:01:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004151525"},"modified":"2021-05-15T07:09:38","modified_gmt":"2021-05-15T15:09:38","slug":"sterling-organization-expands-dc-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sterling-organization-expands-dc-portfolio\/","title":{"rendered":"Sterling Organization Expands DC Portfolio"},"content":{"rendered":"<div id=\"attachment_1004151526\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004151526\" data-attachment-id=\"1004151526\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-expands-dc-portfolio\/capture-32\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture.png\" data-orig-size=\"1696,824\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Kmart, Herndon Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Kmart, Herndon Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture.png?w=1024\" loading=\"lazy\" class=\"wp-image-1004151526 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture.png\" alt=\"Kmart, Herndon Center\" width=\"300\" height=\"146\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture.png 1696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture.png?resize=300,146 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture.png?resize=768,373 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture.png?resize=1024,498 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Capture.png?resize=1536,746 1536w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004151526\" class=\"wp-caption-text\">Kmart, Herndon Center<\/p><\/div>\n<p><b>Washington<\/b>\u2014<a href=\"https:\/\/sterlingorganization.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Sterling Organization<\/a>, a real estate investment firm based in\u00a0Palm Beach,\u00a0has announced the $7 million purchase\u00a0of Kmart at <a href=\"https:\/\/www.herndoncentre.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Herndon Centre<\/a>. The transaction was made through Sterling Value Add Partners II LP, the firm\u2019s institutional fund.<\/p>\n<p>The new\u00a0asset consists of 7.6 acres of land with an 84,180-square-foot building, with Kmart as the shadow anchor to a larger, grocery-anchored shopping center called Herndon Centre, which was not part of the transaction. The property has valuable strengths, counting more than 145,000 people living within a 3-mile radius, as well as an average household income of approximately $138,000.<\/p>\n<p>\u201cWe are pleased to add another D.C. MSA asset to our portfolio,\u201d Brian\u00a0Kosoy,\u00a0president &amp; CEO of Sterling Organization, said in prepared remarks. \u201cThe real estate fundamentals of this property are nothing short of exceptional.\u201d<\/p>\n<p><em>Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p> Located in Fairfax County, approximately 25 miles west of Washington, the shopping center marks Sterling&#8217;s fifth asset in the market. <\/p>\n","protected":false},"author":1002,"featured_media":1004151526,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,11,21742,21749,1615],"tags":[],"class_list":["post-1004151525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-midatlantic","category-latest","category-retail","category-washington-dc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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