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Marietta, Ga. — Sterling Organization has acquired Merchants Walk, a 271,992-square-foot shopping center located in Marietta, roughly 20 miles northwest of downtown Atlanta, for $93.2 million. The investment was made on behalf of Sterling’s $600 million equity institutional value-add fund, Sterling Value Add Partners IV.
Whole Foods Market anchors Merchants Walk, which was 90 percent leased at the time of sale. Additional tenants include Marshalls, PetSmart, Old Navy, DSW, Ulta Beauty, Office Depot and Georgia Theater Company Cinemas.
EDENS, an owner, developer and operator of open-air retail and mixed-use properties, was the seller.