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West Hollywood, Calif. — Sterling Organization has purchased Pavilions Marketplace, a 69,622-square-foot retail center located in West Hollywood. The acquisition was made on behalf of Sterling’s institutional value-add fund, Sterling Value Add Partners IV, marking the fund’s 11th investment.
Pavilions, an upscale supermarket owned by Albertsons Cos., anchors the center, which was 89 percent leased at the time of sale. Other tenants at the property include Chase Bank, Insomnia Cookies and Nothing Bundt Cakes.