{"id":1004399426,"date":"2020-03-12T04:53:08","date_gmt":"2020-03-12T12:53:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004399426"},"modified":"2020-03-12T07:13:14","modified_gmt":"2020-03-12T15:13:14","slug":"dra-advisors-cashes-in-on-1-2-msf-retail-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-cashes-in-on-1-2-msf-retail-portfolio\/","title":{"rendered":"DRA Advisors Cashes In on 1.2 MSF Retail Portfolio"},"content":{"rendered":"
\"\"<\/a>

Stuart\u2019s Crossing. Image courtesy of Sterling Org.<\/em><\/p><\/div>\n

Citing the quality of the assets, Sterling Organization has acquired a nine-property, 1.2 million-square-foot shopping center portfolio from DRA Advisors. The sale includes eight grocery-anchored properties and one power center, all located within the Minneapolis and Chicago MSAs. The portfolio was purchased on behalf of two of Sterling\u2019s managed funds for $202 million.<\/p>\n

Six of the properties are in metro Minneapolis, while the remaining three are located within Chicagoland. The list includes Stuart\u2019s Crossing, an 85,529-square-foot retail center in St. Charles, Ill., anchored by Jewel-Osco, Chicago\u2019s largest grocery chain.<\/p>\n

The portfolio has an average population base of more than 76,000 people, with an average household income exceeding $114,000 within a 3-mile radius, according to Sterling Organization. Tenants anchoring the properties include: Cub Foods (4), Jewel-Osco (2), Lunds & Byerlys, Tony\u2019s Fresh Market, Michael\u2019s (2), Home Depot, HomeGoods, PetSmart, Petco, Office Depot and Five Below (2).<\/p>\n

Brian Kosoy, managing principal, president & CEO of Sterling Organization, noted in a prepared statement that each property in the portfolio acquired on behalf of the firm\u2019s investor partners was a quality asset on a standalone basis. He called that a rarity in a portfolio transaction.<\/p>\n

Sterling deals<\/strong><\/h2>\n

The West Palm Beach, Fla.-based buyer, along with its principals and investment partners, now owns 67 properties across the U.S. The assets comprise more than 12 million square feet and have a collective value of more than $2 billion.<\/p>\n

Last month, Sterling acquired Town Center Colleyville,<\/a> a 244,917-square-foot asset in Colleyville, Texas, that was 85 percent leased at the time of the transaction. Located 21 miles northwest of Dallas\u2019 central business district, the center is anchored by Market Street and includes Studio Movie Grill, Great Clips and a FedEx office.<\/p>\n

In June 2019, Sterling paid $27 million<\/a> for a 109,455-square-foot shopping center in the San Diego suburb of Poway, Calif., anchored by LA Fitness. Both the Texas and California retail centers were purchased on behalf of the Sterling Value Add Partners III LP fund.<\/p>\n","protected":false},"excerpt":{"rendered":"

The $202 million deal included properties located across metro Minneapolis and Chicagoland.<\/p>\n","protected":false},"author":1068,"featured_media":1004399447,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,21808,21783,13,36076,21742,21749],"tags":[41258,33919,36215],"class_list":["post-1004399426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-featured","category-investment","category-midwest","category-minneapolis-st-paul","category-latest","category-retail","tag-brian-kosoy","tag-dra-advisors-llc","tag-sterling-organization"],"acf":[],"yoast_head":"\nDRA Advisors Cashes In on 1.2 MSF Retail Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/dra-advisors-cashes-in-on-1-2-msf-retail-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DRA Advisors Cashes In on 1.2 MSF Retail Portfolio\" \/>\n<meta property=\"og:description\" content=\"The $202 million deal included properties located across metro Minneapolis and Chicagoland.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dra-advisors-cashes-in-on-1-2-msf-retail-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-12T12:53:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-03-12T15:13:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Stuarts_Crossing_Jewel_Osco.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dra-advisors-cashes-in-on-1-2-msf-retail-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/dra-advisors-cashes-in-on-1-2-msf-retail-portfolio\/\",\"name\":\"DRA Advisors Cashes In on 1.2 MSF Retail Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dra-advisors-cashes-in-on-1-2-msf-retail-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dra-advisors-cashes-in-on-1-2-msf-retail-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Stuarts_Crossing_Jewel_Osco.jpg\",\"datePublished\":\"2020-03-12T12:53:08+00:00\",\"dateModified\":\"2020-03-12T15:13:14+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dra-advisors-cashes-in-on-1-2-msf-retail-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/dra-advisors-cashes-in-on-1-2-msf-retail-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dra-advisors-cashes-in-on-1-2-msf-retail-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Stuarts_Crossing_Jewel_Osco.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Stuarts_Crossing_Jewel_Osco.jpg\",\"width\":800,\"height\":620,\"caption\":\"Stuart\u2019s Crossing. 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