San Diego Area shopping center sold
Sterling Organization has bought Poway Crossing which is a 109,455 square foot community shopping center.
The acquisition took place on behalf of Sterling Organization’s institutional Value-Add Fund, Sterling Values Add Partnes III. In addition, previous owner Greenstreet Partners received $27 million in the transaction.
Poway Crossings is located at 12648 Poway Road. It is 21 miles northeast of San Diego and is within 3 miles of Interstate 15. The shopping center is anchored by LA Fitness, Dollar Tree and Big 5 Sporting Goods. The property had an 80 percent occupancy rate at the time of the sale.
Fulya Altunyay/[email protected]