ROSWELL, GA—Palm Beach, FL-based SterlingOrganization has acquired the Roswell VillageShopping Center here for $10.55 million.

The company utilized its institutional fund SterlingValue Add Partners II, LP to acquire the145,082-square-foot shopping center in an off-market transaction.The retail center is located at the southwest corner of Highway 9and Holcomb Bridge Road, approximately 20 miles north of downtownAtlanta. National tenants at the center include Goodyear, PizzaHut, Jersey Mike's Subs and Curves. The physical occupancy of thecenter is currently 31%, Sterling states.

“We are optimistic about the opportunity to re-establish thisproperty as a busy, vibrant and performing shopping center,” saysBrian Kosoy, managing principal, president and CEOof Sterling Organization. “The property represents a goodopportunity as the first investment in our current value-add fund.We are prepared to be patient and are committed to doing the heavylifting and hard work necessary to revitalize this long languishingasset. We are confident that better days lay ahead for RoswellVillage Shopping Center.”