Sterling Organization acquired Merchants Walk, a 271,992-square-foot, Whole Foods Market-anchored shopping center in Marietta, Georgia. 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 contains 26,000 square feet of vacant space,
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