Brian Kosoy Of Sterling Organization Acquires Merchants Walk Shopping Center In Marietta For $93.2M

The property asset involved in the transaction is the Merchants Walk shopping center located at 1289 Johnson Ferry Place, Marietta, GA. This retail property comprises a total area of 271,992 square feet and was sold for a transaction amount of $93,200,000. The asset is positioned on a lot spanning 30 acres and is primarily anchored by a Whole Foods Market, with a leasing rate of 90%. The property currently holds over 26,000 square feet of vacant space, which the buyer plans to lease and reposition for enhanced value.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $93,200,000
• Address: 1289 Johnson Ferry Place
• Market: Marietta, GA
• Asset Size: 271,992 square feet
• Price Per Square Foot: $343
• Buyer: Brian Kosoy - Sterling Organization
• Seller: Jodie W. McLean - Edens
• Brokers: Kevin Hurley & Matt Karempelis - CBRE

This transaction marks the 10th investment for the Sterling Value Add Partners IV fund and represents Sterling Organization's second investment in the metro Atlanta area. The involvement of brokers Kevin Hurley and Matt Karempelis from CBRE was pivotal in facilitating the transaction, ensuring both parties reached a favorable agreement.