Sterling Organization Sells Windsor Square for $70.1 Million

Sterling Organization, a private equity real estate firm, announced the sale of Windsor Square in Matthews, North Carolina, part of the Charlotte MSA, for $70.1 million. Purchased initially for $38.4 million, Windsor Square is a regional shopping center located southeast of downtown Charlotte. The center includes seven retail buildings and is 97% leased, with national tenants such as Sam's Club, Kohl's, and Ross Dress for Less.

The center benefits from its strategic location, with more than 58,000 residents living within a 3-mile radius and an average household income of $114,000. Jordan Fried of Sterling Organization expressed gratitude to Berkeley Capital and wished success to the new owner, Hackney Real Estate Partners.

Sterling Organization, along with its affiliates, manages over 13 million square feet of retail spaces across the U.S., valuing above $3 billion.