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September 23, 2020
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Sterling Organization Picks Up Vacant, 76k sf Retail Asset in Garden Grove


Sterling Organization has acquired Pavilion Plaza West, a 75.9k sf, vacant retail building in Garden Grove, for $11 mil ($145/sf). The property, which was once a Vons Supermarket (Safeway), was purchased from a group of five individuals as part of a tenants-in-common ownership via Sterling Organization’s institutional fund Sterling Value Add Partners II, LP (“SVAP II”).

The property is located at 9852 Chapman Ave, north of the 22 Fwy and just west of Brookhurst St. It is situated in a dense infill location along one of the area’s primary commercial thoroughfares in an extremely vibrant trade area.

With the addition of Pavilion Plaza West in Orange County, Sterling Organization has purchased a total of five properties in California in just over a year. Properties have also been acquired in the Los Angeles, San Diego and San Francisco markets.

This transaction brings the total number of assets owned through the firm’s SVAP II fund to 16. From coast to coast, Sterling Organization and its principals own more than 9 msf of real estate approaching $2 bil in value through various investment vehicles.

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