Sterling Organization Finalizes Sale of Grocery-Anchored Shopping Center for $15.4 Million

Sterling Organization, a real estate investment firm, announced the sale of Caton Crossing, a grocery-anchored shopping center, for $15.4 million. The property, located at 2300-2322 Route 59, Plainfield, IL, spans 83,792 square feet and is fully leased.

Caton Crossing features a 56,192 square-foot grocery store, Tony's Fresh Market, and houses a mix of national and local tenants. The shopping center benefits from its strategic location with over 75,000 residents and an average household income exceeding $110,000 within a three-mile radius.

Jordan Fried, Principal of Sterling Organization, expressed satisfaction with the transaction, attributing the successful sale to strong investor interest in quality, grocery-anchored properties and the team's effective income growth strategies.

Sterling Organization acquired the property in March 2020 for $12.0 million, reflecting a substantial value increase through their management. The firm manages over 12 million square feet of retail space across 73 properties in the U.S.