Sterling Organization Acquires North Ranch Gateway in California for $35 Million

TJ Maxx anchors North Ranch Gateway, an 86,520-square-foot shopping center located in Westlake Village, California. TJ Maxx anchors North Ranch Gateway, an 86,520-square-foot shopping center located in Westlake Village, California.

Westlake Village, Calif. — Sterling Organization has purchased North Ranch Gateway, a shopping center in Westlake Village.

The asset was acquired on behalf of Sterling Value Add Partners LLL, one of Sterling’s latest institutional funds, for $35 million. Preston Fetrow and Sam Alison of CBRE arranged the transaction. Originally built in 1989, the 86,520-square-foot center recently underwent significant renovations. TJ Maxx, Bank of America, Dunkin’ Donuts, Subway, Baja Fresh Mexican Grill, 9 Round Kickboxing, Mathnasium and Domino’s Pizza are tenants at the property, which was 74 percent occupied at the time of sale.

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