Sterling Organization acquired Five Forks Crossing in Lilburn, Georgia, for $10.5m. Located 20 miles northeast of downtown Atlanta, the shopping center is anchored by a Kroger grocery store. Built in 1991 the 73,910 sq ft property is also home to tenants like Great Clips, The UPS Store and Coast Dental. Acquired from Kimco Realty, the asset changed hands for just over $142 per sq ft. The retail center is Sterling Organization’s seventh property in Georgia (five of which are in Atlanta), and its ninth asset in its SUP I portfolio.
“We are happy to expand as a firm in the Atlanta market with the addition of Five Forks Crossing. Through our SUP portfolio, we specifically target properties such as Five Forks Crossing that are well-positioned in strong submarkets within major MSAs and which are anchored by market-leading grocers,” said Ed Senenman, senior managing director of investments and portfolio management at Sterling Organization.
