Sterling Organization has acquired Merchants Walk, a shopping center in Marietta, Georgia. The property was purchased through the firm’s Sterling Value Add Partners IV fund. The purchase expands the firm’s portfolio of retail properties.
Sterling Organization Acquires Merchants Walk Shopping Center
Sterling Organization has completed the acquisition of the shopping center, Merchants Walk. This is the Sterling Value Add Partners IV fund’s 10th investment, and the second in metro Atlanta. The shopping center was acquired from EDENS for $93.2 million.
Sterling Organization announced the acquisition and said it aligns with its strategy of investing in well-located retail centers with established tenants. The company also sees an opportunity to increase the property’s value by leasing the vacant space. It will also adjust below-market rental rates as existing leases expire.
Sterling Organization is a full-service private equity real estate investment firm. The Sterling Value Add Partners IV fund is a $600 million institutional real estate fund focused on value-add investments. The firm previously acquired Presidential Commons in September 2024 for $42.5 million through the same fund.
Merchants Walk Property Details
Merchants Walk is a 271,992-square-foot shopping center in Marietta, Georgia. It is anchored by Whole Foods Market and is 90% leased. Other tenants include Marshalls, PetSmart, Old Navy, DSW, Ulta Beauty, Office Depot, and Georgia Theater Company Stadium Cinemas.
The property has about 26,000 square feet of vacant space. It sits on nearly 30 acres at the intersection of Roswell Road and Johnson Ferry Road.
According to Placer.ai and CBRE data shared by Sterling Organization, the property attracts more than 3.1 million visitors each year. It ranks second among 61 shopping centers within a five-mile radius by annual visits. The surrounding East Cobb area is home to nearly 65,000 residents with an average household income of about $230,000.
The acquisition adds another retail property to Sterling Organization’s Atlanta-area portfolio. The property is part of the firm’s strategy to invest in and reposition retail centers.
