Slatten Ranch Shopping Center lands Florida buyer

"Opportunities like Slatten Ranch don't come along often in a market like this. The 118,200-square-foot retail center has tenants that include Burlington, Five Below, Sephora, and Harbor Freight Tools, along with a mix of daily needs retailers. Target is another key merchant, but the property that Target occupies wasn't part of the deal."

"Slatten Ranch was a rare opportunity to acquire a regionally dominant, institutional-quality community center with significant value-add potential. The buyers also hope to capture some upside because 30,000 square feet in the center is empty."

"There is a lot of capital chasing retail today. We received multiple offers from both regional operators and institutional capital, which demonstrates how rare this opportunity was."

Sterling Organization acquired Slatten Ranch Shopping Center in Antioch for $31 million, a 118,200-square-foot retail hub located near State Route 4 and Lone Tree Way. The center features major tenants including Burlington, Five Below, Sephora, Harbor Freight Tools, and Target, though Target's property was excluded from the sale. The transaction was facilitated by JLL executives Eric Kathrein, Gleb Lvovich, Andrew Spangenberg, and Allie Repaskey. Sterling identified significant value-add potential, particularly from 30,000 square feet of vacant space. Multiple competitive offers demonstrated the rarity of such institutional-quality community retail opportunities. Sterling has actively expanded its East Bay commercial real estate portfolio, including recent acquisitions of a former Fry's Electronics property and Rossmoor Shopping Center.

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