April 29, 2015
Ackerman & Co. Represents Sterling Organization in Roswell, Ga. Shopping Center Acquisition
Atlanta, April 29, 2015 – Sean W. Patrick, CCIM, vice president of investment sales at Ackerman & Co., recently brokered the purchase of an 81,829-square-foot shopping center in Roswell, Ga. for $8,630,000 on behalf of Sterling Organization, a private equity real estate investment firm headquartered in Palm Beach, Fla.
The 55-percent-occupied neighborhood shopping center is located at the northwest corner of Holcomb Bridge Road and Holcomb Woods Parkway in Roswell, just 20 miles north of downtown Atlanta. It is anchored by Office Depot and shadow anchored by a 102,000-square-foot Home Depot.
“This acquisition represents our second purchase in Roswell and our third in the Atlanta MSA in the past 10 months,” said Brian Kosoy, Managing Principal, President and CEO of Sterling Organization.
The off-market property was purchased via the Sterling Value Add Partners II, LP fund and represented by Sean W. Patrick. The seller, GE Credit Equities, Inc., was represented by Crossman Company.
– About Ackerman & Co. –
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing best-in-class investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired more than 30 million square feet of office, medical, retail and mixed-use space, has nearly 4 million square feet under management, and maintains an investment portfolio valued at $750 million.
For more information on Ackerman & Co., visit www.ackermanco.com