Sterling Organization Acquires Merchants Walk, 271,992-Square-Foot Whole Foods Market-Anchored Shopping Center in Metro Atlanta's East Cobb Submarket for $93.2 Million

WEST PALM BEACH, Fla., July 22, 2026 /PRNewswire/ -- Sterling Organization, a vertically integrated private equity real estate investment firm headquartered in West Palm Beach, Florida, today announced it has acquired Merchants Walk, a 271,992-square-foot, Whole Foods Market-anchored shopping center in Marietta, Georgia (Atlanta MSA). Sterling Organization acquired the property from EDENS, an owner, developer, and operator of open-air retail and mixed-use properties, 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 (SVAP IV). Merchants Walk represents the fund's 10th investment and its second in the Atlanta metro area, having purchased 264,271-square-foot Kroger-anchored Presidential Commons in September 2024 for $42.5 million.

Merchants Walk is currently 90% leased and anchored by a high-performing Whole Foods Market, which has operated at the property since 2011, alongside a strong lineup of co-anchors including Marshalls, PetSmart, Old Navy, DSW, Ulta Beauty, Office Depot, and Georgia Theater Company Stadium Cinemas, and is shadow-anchored by Kohl's. The property, which contains 26,000 square feet of vacant space, sits on approximately 30 acres at the intersection of Roswell Road and Johnson Ferry Road, two of North Atlanta's most heavily trafficked non-highway corridors that carry more than 82,100 vehicles per day.

The center draws more than 3.1 million visitors annually and ranks #2 among 61 shopping centers within a five-mile radius by total visits, according to Placer.ai and CBRE Location Intelligence data. The property is at the epicenter of East Cobb, one of Atlanta's most sought-after submarkets, where the three-mile trade area is home to nearly 65,000 residents with an average household income of approximately $230,000.

"Merchants Walk is exactly the type of asset we are targeting on behalf of our SVAP IV fund. The property is well-located, attracts an affluent customer base, and maintains a deep roster of high-performing national tenants with long operating histories at the center," said Jordan Fried, Principal at Sterling Organization. "We have had the pleasure of transacting with EDENS as both a buyer and a seller on many occasions and appreciate their professionalism and collaborative approach, which results in smooth and efficient transactions. I also want to thank Kevin Hurley, Matt Karempelis and their team at CBRE's National Retail Partners for their assistance throughout."

Bob Dake, Principal at Sterling Organization, added, "We are excited about the compelling opportunity Merchants Walk presents to add significant value through the lease-up of more than 26,000 square feet of the property's well-positioned vacant space in one of metro Atlanta's strongest retail corridors. Additional upside exists through the opportunity to bring below-market rents to market as those leases naturally expire. We also believe our team should be able to take advantage of some less than obvious, yet material, value-add activities at the asset during our ownership on behalf of our fund partners. I look forward to seeing how the deal unfolds in the next few years."

About Sterling Organization
Sterling Organization is a vertically integrated private equity real estate investment firm specializing in open-air shopping centers across the United States. With the addition of Merchants Walk, Sterling Organization and its affiliates now own 78 properties throughout the United States, across various funds and other investment vehicles, encompassing more than 14 million square feet and exceeding $3.8 billion in gross asset value. The firm is headquartered in West Palm Beach, Florida and has offices nationwide. For leasing opportunities, contact [email protected].

Sterling Organization is actively seeking investment opportunities and has over $1 billion of buying power across various investment strategies. For acquisition or disposition inquiries, contact [email protected].

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SOURCE Sterling Organization