Sterling Organization, a West Palm Beach, Fla.-based private equity real estate investment firm focused on the retail sector, announced the acquisition of Pavilions Marketplace, a 69,622-square-foot shopping center anchored by a Pavilions (Albertsons) grocery store in West Hollywood, Calif. Sterling Organization acquired the property on behalf of its institutional value-add fund, Sterling Value Add Partners IV (SVAP IV), marking the fund’s 11th investment.
Pavilions Marketplace is currently 89 percent leased and is anchored by a high-volume 54,087-square-foot Pavilions grocery store with a lineup of quality co-tenants including Chase Bank, Insomnia Cookies and Nothing Bundt Cakes. The property sits on approximately 3.4 acres at the intersection of Santa Monica Boulevard and North Robertson Boulevard, in the center of one of the country’s most densely populated and affluent urban neighborhoods. The surrounding three-mile trade area is home to more than 244,000 residents wi
