Investment sales

San Luis Obispo, Calif. — Nuveen Real Estate has acquired Marigold Center, a 174,428-square-foot shopping center located at 3900 Broad St. in San Luis Obispo, for $58.3 million. Gleb Lvovich, Geoff Tranchina, Daniel Tyner and Eric Kathrein of JLL represented the seller, First Washington Realty, in the transaction. Vons anchors Marigold Center, which was 91.5 percent leased at the time of sale. Additional tenants at the property include CVS Pharmacy and Planet Fitness, as well as a mix of sporting goods, restaurant, medical and service-oriented tenants. The center sits on …

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.

El Cajon, Calif. — DPI Retail has sold Main Street Marketplace, a grocery-anchored shopping center in El Cajon, located in San Diego County, for $17.5 million. The buyer, an entity doing business as First Corner LLC, is the owner of Manolo Farmers Market, which has anchored the property since 1988. Enrique Wong of Marcus & Millichap, along with Tom Lagos, Patrick Toomey and Jose Carrazana of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller in the deal. Built in 1979 at 1045-1099 E. Main St., Main …

Huntington Beach, Calif. — Westwood Financial has acquired Peninsula Marketplace, a 95,416-square-foot shopping center located in Huntington Beach in Southern California. Ralphs anchors the property, which was 99 percent leased at the time of sale. Other tenants at the center include Planet Fitness, Carl’s Jr., Woof Gang Bakery & Grooming, Sourdough & Co., Rubio’s Baja Gril, Peninsula Orthodontics, Aim Mail Center and 602 Coffee & Acai.