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Sterling Organization Expands Portfolio with $31 Million Acquisition of Slatten Ranch Shopping Center in California
Sterling Organization Expands Portfolio with $31 Million Acquisition of Slatten Ranch Shopping Center in California
The 118,187-square-foot shopping center is shadow anchored by a 142,000-square-foot Target, which ranks among the top performing stores in the U.S.
WEST PALM BEACH, FL / ACCESS Newswire / January 16, 2026 / Sterling Organization, a vertically integrated private equity real estate investment firm headquartered in West Palm Beach, Florida, has added another asset to its national retail portfolio with the acquisition of Slatten Ranch Shopping Center ("Slatten Ranch"), located at 5709 Lone Tree Way in Antioch, California, a San Francisco MSA submarket. The purchase was made on behalf of Sterling's $600 million institutional value-add fund, Sterling Value Add Partners IV (SVAP IV).
The 118,187-square-foot shopping center is shadow anchored by a 142,000-square-foot Target, which ranks among the top-performing stores in the U.S. The center is leased to tenants including Burlington, Five Below, Sephora, and Harbor Freight Tools, plus a mix of daily needs retailers. The shopping center sits along Highway 4 and Lone Tree Way, where more than 81,000 vehicles pass daily. Slatten Ranch draws a robust consumer base, and within a three-mile radius of the property, there are more than 122,000 residents with average household incomes exceeding $168,000.
"Opportunities like Slatten Ranch don't come along often in a market like this. Slatten Ranch is a high-quality asset that benefits from the draw of Target while offering immediate actionable upside with over 30,000 square feet of well-positioned vacant space. Our team is looking forward to executing our business plan and delivering strong results for our investor partners," said Jordan Fried, Principal at Sterling Organization. "We'd like to thank Ryan Nickelson with LRG Investors, as well as Eric Kathrein, Gleb Lvovich, Geoff Tranchina, Andrew Spangenberg, and the JLL team for their collective efforts and professionalism on this transaction," added Mr. Fried.
"We are thrilled to add Slatten Ranch Shopping Center to our value-add portfolio," said Bob Dake, Principal at Sterling Organization. "This acquisition presented the opportunity to purchase a market-leading, Target shadow-anchored asset in a densely populated and high-growth Northern California Bay Area submarket. Our team looks forward to filling the existing vacancies and increasing the occupancy rate at the property from 72% to our goal of 100% during our hold period. We also intend to improve both property operations and tenant mix to better serve the community," he added.
Vacancies available for lease range from 5,627 to 27,000 square feet. Leasing inquiries can be directed to [email protected].
With the addition of Slatten Ranch, Sterling Organization and its affiliates now own 82 properties nationwide, totaling more than 13 million square feet and exceeding $3 billion in value. The firm continues to actively seek new investments and currently has more than $1 billion in aggregate buying power across its various strategies. Acquisition and disposition inquiries may be sent to [email protected].
Media Contact:
Dana Verhelst, SVP Marketing
[email protected]
SOURCE: Sterling Organization
View the original press release on ACCESS Newswire
L.Mitchell--SMC
