Huntington Park, Calif. — Sterling Organization has acquired Margarita Plaza, a grocery-anchored shopping center located four miles outside Los Angeles in Huntington Park, for $23.8 million.
The company acquired the asset from undisclosed private investors on behalf of its core fund, Sterling United Properties I LP. Food 4 Less anchors the 76,797-square-foot center, which was 93 percent leased at the time of sale. Additional tenants include Little Caesar’s Pizza and Jackson Hewitt. Margarita Plaza was constructed in 1989 and underwent a renovation in 2014.