Sterling Organization Acquires Pavilions Marketplace, a 69,622-Square-Foot Grocery-Anchored Shopping Center in West Hollywood, California

WEST PALM BEACH, Fla., Sept. 29, 2026 /PRNewswire/ -- Sterling Organization, a West Palm Beach, Florida-based private equity real estate investment firm focused on the retail sector, today announced the acquisition of Pavilions Marketplace, a 69,622-square-foot shopping center anchored by a Pavilions (Albertsons) grocery store in West Hollywood, Calif. Sterling Organization acquired the property on behalf of its institutional value-add fund, Sterling Value Add Partners IV (SVAP IV), marking the fund's 11th investment.

Pavilions Marketplace is currently 89% leased and is anchored by a high volume 54,087-square-foot Pavilions grocery store with a lineup of quality co-tenants including Chase Bank, Insomnia Cookies, and Nothing Bundt Cakes. The property is situated on approximately 3.4 acres at the intersection of Santa Monica Boulevard and North Robertson Boulevard and lies at the center of one of the country's most densely populated and affluent urban neighborhoods. The surrounding three-mile trade area is home to more than 244,000 residents with average household incomes exceeding $194,000 per annum. The property's location places it within close proximity to both Beverly Hills and Century City.

"Pavilions Marketplace embodies the type of investment we have been targeting for Sterling Value Add Partners IV. The immediate opportunity to lease high-quality, high-rent, vacant space at what we believe can become a trophy grocery-anchored shopping center asset is very compelling to us. The property is located on what we believe to be an irreplaceable piece of real estate in West Hollywood that offers our team opportunities to enhance its physical appeal, improve occupancy, refine the tenant mix, and unlock some less than obvious sources of high quality and material income streams. We believe our ownership approach and business plan will both strengthen the property's position within the community and create meaningful value for our investor partners," said Bob Dake, Principal at Sterling Organization.

"As we continue to invest capital on behalf of our SVAP IV Fund, we remain focused on acquiring well-located shopping centers with strong fundamentals and significant value creation opportunities," said Jordan Fried, Principal at Sterling Organization. "We are excited about the risk-reward profile this investment presents for our SVAP IV Fund partners. A sincere thank you must go out to Chris Hoffmann and the entire Eastdil Secured Savills team for their professionalism and pragmatism in helping us complete this acquisition smoothly and within an expedited time frame."

About Sterling Organization

Sterling Organization is a vertically integrated private equity real estate investment firm specializing in retail real estate assets across the United States. With the addition of this shopping center, Sterling Organization and its affiliates now own 83 properties across various funds and other investment vehicles, encompassing more than 15 million square feet and exceeding $4 billion in gross asset value. The firm is headquartered in West Palm Beach, Florida and has offices nationwide. For leasing opportunities, contact [email protected].

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SOURCE Sterling Organization