Sterling Organization, a private equity firm specializing in retail and consumer fulfillment assets, announced the sale of the Caton Crossing shopping center for $15.4 million, generating significant returns on its $12.0 million investment made back in March 2020. The 83,792-square-foot property, which is located in Plainfield, IL and fully leased, features a 56,192 square-foot Tonys Fresh Market grocery store as its anchor tenant. The sale reflects the company’s strategic acumen, as it capitalized on the enduring appeal of quality, grocery-anchored shopping destinations amidst widespread investor interest, even though the property was already at full occupancy upon acquisition. Under Sterling’s stewardship, income growth was achieved, satisfying the fund’s target for investor partners. The deal was facilitated with the expertise of Evan Halkias and the Cushman & Wakefield team, with Essential Growth Properties acquiring the asset. Sterling Organization’s portfolio boasts 73 properties, encompassing over 12 million square feet of retail real estate across the United States, emphasizing the firm’s established presence and operational success in the retail property investment sector.

Real Estate Investment, Retail,United States, Illinois

https://www.newswire.com/news/sterling-organization-sells-chicago-il-grocery-anchored-center-for-15-22330909