Sterling Organization Acquires $23.5 Million Retail Building in Beverly Hills

Beverly Hills, Calif. — Sterling Organization has acquired a 4,700-square-foot retail building located east of Rodeo Drive in Beverly Hills’ Golden Triangle.

The property was purchased off-market on behalf of the firm’s institutional fund Sterling Value Add Partners II for $23.5 million. The 4,700-square-foot property is expected to be vacant in the first quarter of 2017. Justin Mendelson of Charles Dunn Co. represented Sterling Organization, and Darrel Levonian and Brian Jensen of Charles Dunn Co. represented the seller, a private investor partnership based in California and Texas.