Sterling Organization has announced the acquisition of Marketplace at Buckhead, formerly known as Cherokee Plaza.
Marketplace at Buckhead
Marketplace at Buckhead, formerly known as Cherokee Plaza
ATLANTA, October 6, 2023 (Newswire.com)
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Sterling Organization, a vertically integrated private equity real estate investment firm with a national platform focused on investing in LAST HOUR® consumer fulfillment and distribution real estate assets, has announced the acquisition of Marketplace at Buckhead, formerly known as Cherokee Plaza, located at 3871-3895 Peachtree Road NE, Atlanta, GA 30319. Sterling acquired the 102,864-square-foot property on behalf of its stabilized grocery-anchored shopping center fund, Sterling United Properties II, LP (“SUP II”), and marks the 14th property in the $267 million equity fund.
Marketplace at Buckhead is anchored by an 81,718-square-foot market-leading Kroger grocery store and is home to national tenants such as Starbucks, Jersey Mike’s Subs, and Salon Lofts. The center is ideally situated within a 3-mile proximity to single-family communities that have a population base of over 146,000 and an average household income of over $175,000.
“Marketplace at Buckhead is what we would consider a trophy grocery-anchored shopping center asset. The property has a prime location in, and adjacent to, Atlanta’s most prestigious submarkets with very strong underlying property fundamentals and is fully leased to a lineup of tenants offering necessity goods and services creating a rock-solid rent roll,” said Jordan Fried, Principal of Sterling Organization. “Marketplace at Buckhead fits beautifully into our larger SUP II portfolio,” added Fried.
Marketplace at Buckhead is the 73rd property currently owned by Sterling Organization, via managed subsidiaries, in markets throughout the U.S. and increases the Florida based private equity firm’s portfolio to over 12.3 million square feet of gross leasable area and over $2.8 billion in real estate value.
Contact Information:
Dana Verhelst
SVP, Marketing
+15618127476
Original Source:
Sterling Organization Acquires Trophy Grocery-Anchored Shopping Center Serving Buckhead, GA (Atlanta MSA), ‘Marketplace at Buckhead’
