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Sterling Organization Acquires 97,266 Sq. Ft. Grocery Anchored 'Cinco Ranch Shopping Center' in Katy (Houston MSA), TX for $21.25 Million.


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WEST PALM BEACH, Fla., May 5, 2021 /PRNewswire/ Sterling Organization, a vertically integrated private equity real estate investment firm, has announced the acquisition of Cinco Ranch Shopping Center, a 97,266-square-foot grocery-anchored shopping center located in the Houston MSA. The property was purchased on behalf of Sterling Organization s institutional grocery-anchored shopping center core fund, Sterling United Properties II, LP ( SUP II ), for $21.25 million or $218 per square foot.
Kroger grocery store which anchors the shopping center
The property is currently 94% leased and anchored by a 63,373-square-foot Kroger grocery store. The property is well-positioned in a densely populated submarket that has over 123,000 people living within a 3-mile radius of the site with an average household income of over $142,000. ....

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