California

Poway, Calif. — Sterling Organization has acquired Poway Crossings, a 109,455-square-foot, retail center in Poway, for $27 million. Sterling Organization bought the property through its value-add fund, Sterling Value Add Partners III LP. Poway Crossing is located 12622-12654 Poway Road, 20 miles north of downtown San Diego. LA Fitness anchors the property, and other tenants include Dollar Tree, Big 5 Sporting Goods, Massage Envy, Sola Salon Studios, Sushi Lounge, Banfield Pet Hospital and KFC. Gleb Lvovich and Daniel Tyner of HFF represented the undisclosed seller in the transaction.

Encinitas, Calif. — Capstone Advisors has acquired El Camino Square, a retail property located in Encinitas. US Financial LP sold the asset for $12.2 million. Located at 191 N. El Camino Road, the two-level property features 28,037 square feet of retail space. Current tenants include T-Mobile, Salon Bella Bella, Golden State Bagels and Chiltonic. Vic Gausepohl and Kirk Allison of Colliers International San Diego Region represented the buyer, while the seller was self-represented in the deal. Gausepohl and Allison have also been retained to handle leasing for the property.

San Francisco — A joint venture led by Sansome Pacific, a real estate investment firm based in San Francisco, has acquired 11 locations of outdoor sports retailer Cabela’s for $324.3 million. The transaction was structured as a sale-leaseback with the seller, Bass Pro Shops, which owns the Cabela’s brand. Much like Bass Pro Shops, Cabela’s is known for its sprawling retail campuses. The 11-property portfolio spans 1.6 million square feet on 227 acres of land. Bass Pro Shops is based in Springfield, Missouri, while Cabela’s is based in Sidney, Nebraska. …