{"id":1004685176,"date":"2023-10-09T04:19:41","date_gmt":"2023-10-09T12:19:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004685176"},"modified":"2023-10-09T05:31:00","modified_gmt":"2023-10-09T13:31:00","slug":"sterling-organization-buys-atlanta-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sterling-organization-buys-atlanta-shopping-center\/","title":{"rendered":"Sterling Organization Buys Atlanta Shopping Center"},"content":{"rendered":"
\"Marketplace<\/a>

Marketplace at Buckhead is anchored by Kroger. Image courtesy of Sterling Organization<\/em><\/p><\/div>\n

Sterling Organization<\/strong> has acquired a 102,864-square-foot grocery-anchored shopping center, formerly known as Cherokee Plaza, in Atlanta.<\/p>\n

Sterling acquired the asset at 3871-3895 Peachtree Road NE on behalf of its stabilized grocery-anchored shopping center fund, Sterling United Properties II LP (SUP II). Marketplace at Buckhead is the 14th property in the $267 million equity fund.<\/p>\n

The center is anchored by an 81,718-square-foot Kroger <\/strong>grocery store and is also home to Starbucks<\/strong>, Jersey Mike’s Subs<\/strong> and Salon Lofts<\/strong>. The demographics of the surrounding are sound. The population base within a 3-mile radius is about 146,000 residents, with an average household income of more than $175,000.<\/p>\n

\n

READ ALSO<\/strong>: Navigating the Retail Financing Landscape<\/a><\/p>\n

\n

In a prepared statement, Jordan Fried, principal of Sterling Organization, called Marketplace at Buckhead a trophy asset, based on a prime location \u201cwith very strong underlying property fundamentals\u201d and being \u201cfully leased to a lineup of tenants offering necessity goods and services\u2026.\u201d<\/p>\n

Retail resurgence<\/h2>\n

Despite economic uncertainty, population growth is fueling metro Atlanta\u2019s retail space market, especially for necessity retailers, according to a second-quarter report from Marcus & Millichap<\/strong>.<\/p>\n

Consistent net absorption above deliveries has pushed vacancy to a record low of 4.1 percent. Further, construction is lagging, which is helping to drive double-digit rent increases.<\/p>\n

Though investment activity has been slowed by the tighter lending market, Marcus & Millichap says, \u201cimpressive fundamentals are proving engaging to a number of investors. In recent weeks, many properties are selling at or near the initial asking price, suggesting that buyer\/seller expectations are falling increasingly in line.\u201d<\/p>\n

This past January, Branch Properties acquired<\/a> a 14-acre site in Gainesville, Ga., in the Atlanta suburbs, to develop Limestone Marketplace, an approximately 76,800-square-foot project anchored by a 55,000-square-foot Publix Super Market.<\/p>\n","protected":false},"excerpt":{"rendered":"

The upscale property marks the latest acquisition by a $267 million equity fund.<\/p>\n","protected":false},"author":882,"featured_media":1004685185,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21808,21783,21742,21749,32781],"tags":[35626,34836,36215],"class_list":["post-1004685176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-featured","category-investment","category-latest","category-retail","category-southeast","tag-kroger-company","tag-marcus-millichap","tag-sterling-organization"],"acf":[],"yoast_head":"\nSterling Organization Buys Atlanta Shopping Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Sterling Organization has acquired a 102,864-square-foot grocery-anchored shopping center, formerly known as Cherokee Plaza, in Atlanta.\" \/>\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\/sterling-organization-buys-atlanta-shopping-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sterling Organization Buys Atlanta Shopping Center\" \/>\n<meta property=\"og:description\" content=\"Sterling Organization has acquired a 102,864-square-foot grocery-anchored shopping center, formerly known as Cherokee Plaza, in Atlanta.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-buys-atlanta-shopping-center\/\" \/>\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=\"2023-10-09T12:19:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-09T13:31:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Marketplace-at-Buckhead.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"776\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\/sterling-organization-buys-atlanta-shopping-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-buys-atlanta-shopping-center\/\",\"name\":\"Sterling Organization Buys Atlanta Shopping Center - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-buys-atlanta-shopping-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-buys-atlanta-shopping-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Marketplace-at-Buckhead.jpg\",\"datePublished\":\"2023-10-09T12:19:41+00:00\",\"dateModified\":\"2023-10-09T13:31:00+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"Sterling Organization has acquired a 102,864-square-foot grocery-anchored shopping center, formerly known as Cherokee Plaza, in Atlanta.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-buys-atlanta-shopping-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-buys-atlanta-shopping-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-buys-atlanta-shopping-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Marketplace-at-Buckhead.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Marketplace-at-Buckhead.jpg\",\"width\":776,\"height\":600,\"caption\":\"Marketplace at Buckhead is anchored by Kroger. 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