OCEANSIDE, CA—The 87,740 square foot Oceanside Town & Country Shopping Center was sold recently to Sterling Organization as part of the firm's institutional fund Sterling Value Add Partners II, LP, fund.
Cushman & Wakefield's Retail Investment Team led by Dixie Walker facilitated the sale $15.7 million sale of the asset. The sellers were Prudential Real Estate Investors and Kimco Realty Corporation.
Oceanside Town & Country is anchored by a Smart & Final Extra! grocery store. Other national and regional retailers at the center include Starbucks, T-Mobile, West Marine, The UPS Store and Avis. The property is located at the interchange of the Interstate 5/San Diego Freeway and Oceanside Boulevard, approximately one mile from the Pacific Ocean.
“We believe the asset fits squarely in our value-add fund's box and expect to add significant value to the asset on behalf of our investment partners over our hold period,” said Brian Kosoy, managing principal of the Sterling Organization. “I also must thank the great folks at Kimco and Prudential—as well as Dixie Walker and his team—all of whom made our entrée into California a most professional and facile experience.”
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