{"id":1004657342,"date":"2023-04-14T03:48:54","date_gmt":"2023-04-14T11:48:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004657342"},"modified":"2023-04-18T09:10:55","modified_gmt":"2023-04-18T17:10:55","slug":"sterling-organization-acquires-bay-area-retail-centers","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/","title":{"rendered":"Sterling Organization Acquires Bay Area Retail Centers"},"content":{"rendered":"
\"\"<\/a>

The Franciscan and Mohave Centers in Fremont, Calif. Image courtesy of JLL Capital Markets<\/em><\/p><\/div>\n

Sterling Organization<\/strong> has closed its purchase of two retail properties in Fremont, Calif., for $40.5 million. The firm has acquired Franciscan Center, a 106,840-square-foot shopping center, and the adjoining Mohave Center, a 10,228-square-foot strip mall.<\/p>\n

The previous owner of the site was Danville, Calif.-based company Patterson Ranch Inc.<\/strong>, according to CommercialEdge data. JLL Capital Markets<\/strong>, which represented the former owner in a singular transaction selling both assets, declined to name the seller in a statement announcing the transaction. However, JLL did note that the retail properties<\/a> were sold by their original owner, who had held the assets for half a century.<\/p>\n

\n

READ ALSO<\/strong>: Office, Retail Net Lease Cap Rates Reach Highest Level Since 2020<\/a><\/p>\n

\n

Located in the San Francisco Bay Area, the properties have an occupancy rate of 92 percent. Tenants at the properties include supermarket Safeway, which anchors the Franciscan Center, fast food locations Taco Bell, KFC and Burger King, a 7-Eleven location and a Bank of America branch.<\/p>\n

Franciscan Center, which sits adjacent to the Tesla Fremont Factory, is located at 46690-46850 Warm Springs Road, with Mohave Center located at 46650 Mohave Drive. The projects are near major freeways, corporate campuses and residential areas.<\/p>\n

JLL\u2019s Retail Capital Markets Investment Sales and Advisory team, led by Managing Directors Gleb Lvovich, Geoff Tranchina and Eric Kathrein, and Senior Director Daniel Tyner, advised the seller.<\/p>\n

West Palm Beach, Fla.-based Sterling Organization invests in value-add retail real estate, core grocery-anchored retail real estate and consumer fulfillment and distribution real estate. The firm owns 73 properties in various U.S. markets. JLL’s Tyner praised the grocery-anchored asset class in the statement, saying the sector drives strong demand and pricing.<\/p>\n","protected":false},"excerpt":{"rendered":"

Two grocery-anchored properties were sold by their original owner after half a century.<\/p>\n","protected":false},"author":3154,"featured_media":1004657344,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21749,1609,15],"tags":[44006,36215],"class_list":["post-1004657342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-retail","category-san-francisco","category-west","tag-jll-capital-markets","tag-sterling-organization"],"acf":[],"yoast_head":"\nSterling Organization Acquires Bay Area Retail Centers - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Sterling Organization has closed its purchase of two retail properties in Fremont, Calif., for $40.5 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sterling Organization Acquires Bay Area Retail Centers\" \/>\n<meta property=\"og:description\" content=\"Sterling Organization has closed its purchase of two retail properties in Fremont, Calif., for $40.5 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-14T11:48:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-18T17:10:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/franciscan-and-mohave-teaser.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Fotios Tsarouhis\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/\",\"name\":\"Sterling Organization Acquires Bay Area Retail Centers - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/franciscan-and-mohave-teaser.png\",\"datePublished\":\"2023-04-14T11:48:54+00:00\",\"dateModified\":\"2023-04-18T17:10:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/98b17361e75363c0b179f1a51ccb5cc8\"},\"description\":\"Sterling Organization has closed its purchase of two retail properties in Fremont, Calif., for $40.5 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/franciscan-and-mohave-teaser.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/franciscan-and-mohave-teaser.png\",\"width\":800,\"height\":620,\"caption\":\"The Franciscan and Mohave Centers in Fremont, Calif. Image courtesy of JLL Capital Markets\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sterling Organization Acquires Bay Area Retail Centers\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/98b17361e75363c0b179f1a51ccb5cc8\",\"name\":\"Fotios Tsarouhis\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7680ec8567fd1f6a07604ad4f435f9eb4b13d2207b806ff39806cbcb09d41abe?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7680ec8567fd1f6a07604ad4f435f9eb4b13d2207b806ff39806cbcb09d41abe?s=96&d=mm&r=g\",\"caption\":\"Fotios Tsarouhis\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/fotios-tsarouhis\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Sterling Organization Acquires Bay Area Retail Centers - Commercial Property Executive","description":"Sterling Organization has closed its purchase of two retail properties in Fremont, Calif., for $40.5 million.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/","og_locale":"en_US","og_type":"article","og_title":"Sterling Organization Acquires Bay Area Retail Centers","og_description":"Sterling Organization has closed its purchase of two retail properties in Fremont, Calif., for $40.5 million.","og_url":"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2023-04-14T11:48:54+00:00","article_modified_time":"2023-04-18T17:10:55+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/franciscan-and-mohave-teaser.png","type":"image\/png"}],"author":"Fotios Tsarouhis","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/","url":"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/","name":"Sterling Organization Acquires Bay Area Retail Centers - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/franciscan-and-mohave-teaser.png","datePublished":"2023-04-14T11:48:54+00:00","dateModified":"2023-04-18T17:10:55+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/98b17361e75363c0b179f1a51ccb5cc8"},"description":"Sterling Organization has closed its purchase of two retail properties in Fremont, Calif., for $40.5 million.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/franciscan-and-mohave-teaser.png","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/franciscan-and-mohave-teaser.png","width":800,"height":620,"caption":"The Franciscan and Mohave Centers in Fremont, Calif. Image courtesy of JLL Capital Markets"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/sterling-organization-acquires-bay-area-retail-centers\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Sterling Organization Acquires Bay Area Retail Centers"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/98b17361e75363c0b179f1a51ccb5cc8","name":"Fotios Tsarouhis","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7680ec8567fd1f6a07604ad4f435f9eb4b13d2207b806ff39806cbcb09d41abe?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7680ec8567fd1f6a07604ad4f435f9eb4b13d2207b806ff39806cbcb09d41abe?s=96&d=mm&r=g","caption":"Fotios Tsarouhis"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/fotios-tsarouhis\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/franciscan-and-mohave-teaser.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004657342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3154"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004657342"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004657342\/revisions"}],"predecessor-version":[{"id":1004657909,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004657342\/revisions\/1004657909"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004657344"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004657342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004657342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004657342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}