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Thursday, September 13, 2018

The Real Deal: Sterling Organization pays $24M for Huntington Park shopping center


The Real Deal's Dennis Lynch reports:

"The Sterling Organization has followed a big retail purchase in Westlake Village with an encore in Huntington Park. The Palm Beach, Florida-based firm paid $23.8 million for Margarita Plaza, a 76,800-square-foot shopping center at 6920 Santa Fe Avenue, about four miles south of Downtown L.A.

The property, which is 93 percent occupied, is anchored by a 43,350-square-foot Food 4 Less grocery store. Other tenants include a Little Caesar’s Pizza and Jackson Hewitt tax preparation office. The sale comes out to $309 per square foot.

Last month, Sterling topped L.A. County’s retail investment sales list with the $35 million purchase of the North Ranch Gateway shopping center in Westlake Village."

Click here to read the article online.