Florida-based private equity real estate investment firm Sterling Organization announced the acquisition of Margarita Plaza, a grocery-anchored shopping centre located at the northeast corner of Santa Fe Avenue and E. Florence Avenue in Huntington Park, approximately 4 miles from downtown Los Angeles.
The property was purchased in an off-market transaction from private investors on behalf of Sterling Organization’s institutional grocery-anchored shopping center core fund, Sterling United Properties for $23.75 million.
The 76,797 square-foot shopping centre is anchored by a 43,350 square-foot food for grocery store.
From coast to coast, Sterling Organization and its principals own approximately 10 million square feet of retail and other commercial real estate approaching $2 billion in value.