Sterling Organization Acquires Grocery-Anchored Shopping Center in Coral Springs, FL, for $37.4 Million
- Wall Street ends first day of third quarter with solid rebound
- Tesla (TSLA) Delivered 254,695 EV Units in Q2, Below Consensus
- Goldman Sachs Warns Clients of More Equity Market Losses in Second Half of 2022
- Kohl's (KSS) Falls 15% After Ending Sale Talks With Franchise Group and Issuing Q2 Warning
- General Motors Warns It Has 95k Vehicles in Inventory Without Certain Components
The grocery-anchored shopping center is ideally situated in the heart of the Northwest Broward County submarket, at the hard corner of W. Sample Road and NW 62nd Ave., and is anchored by Aldi
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
WEST PALM BEACH, Fla., May 26, 2022 (GLOBE NEWSWIRE) -- Sterling Organization, a vertically integrated private equity real estate firm whose national platform is focused on investing in LAST HOUR® consumer fulfillment and distribution real estate assets, has announced the acquisition of Coral Landings III, a grocery-anchored shopping center located in the South Florida community of Coral Springs, Florida (Fort Lauderdale, FL MSA). The property was acquired on behalf of Sterling's institutional fund Sterling Value Add Partners III, LP ("SVAP III") for $37.4 million and marks the 17th investment made by the $497 million equity fund.
Coral Landings III is a 171,299-square-foot grocery-anchored shopping center ideally situated in the heart of the Northwest Broward County submarket, at the hard corner of W. Sample Road and NW 62nd Ave., and is anchored by Aldi. Additional national retailers in occupancy include HomeGoods, Best Buy, Jo-Ann Fabric, and Five Below.
"We are pleased to add an asset of Coral Landings III's quality to our SVAP III portfolio as we look to round out the investment period of The Fund," said Jordan Fried, a Principal of Sterling Organization. "Located in a strong South Florida market in close proximity to our West Palm Beach headquarters, we believe this property offers many value-add levers that our team will be able to execute on. We greatly appreciate the opportunity afforded by sellers Madison Marquette and SEDCO Capital, as well as CBRE's assistance along the way."
Sterling Organization currently owns 72 properties, across multiple funds, in major markets throughout the United States exceeding 11.8 million square feet and approaching $2.4 billion in value.
About Sterling Organization
Sterling Organization is a vertically integrated private equity real estate firm whose national platform is focused on investing in LAST HOUR® consumer fulfillment and distribution real estate assets across the risk spectrum in major markets within the United States. Sterling Organization, with offices across the nation, is headquartered in West Palm Beach, Florida.
Media Contact:Dana Verhelst[email protected]
Learn more about the property: Coral Landings III
Image 1: Aldi Aldi at Coral Landings III in Coral Springs, Florida
This content was issued through the press release distribution service at Newswire.com.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ALK spotlights the impact of respiratory allergies on children at EAACI Congress
- Hyderabad's Sravani Hospitals Honors 53 Doctors on National Doctors Day 2022 with Vaidya Vibhushan 2022 and Vaidya Ratna 2022
- McGRATH REAL ESTATE PARTNERS Announces 9.16-Acre Land Acquisition for Future Inner Loop, Class A 400-Unit Multifamily Development
Create E-mail Alert Related CategoriesGlobe Newswire, Press Releases
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!