Sterling Organization recently acquired Franciscan Center and Mohave Center, two adjacent retail properties in the Warm Springs district of Fremont, CA. JLL Capital Markets represented the private seller in a single transaction valued at $40.5 million.
The two centers boast 92% occupancy with notable tenants such as Safeway, Taco Bell, KFC, Burger King Bank of America and 7-11 located nearby to the Fremont Tesla plant. The JLL team representing the seller included Gleb Lvovich , Daniel Tyner , Geoff Tranchina and Eric Kathrein .
Lvovich commented on this rare opportunity stating “It’s extremely rare to work with original owners dating back half a century…We are thrilled to represent them in their last real estate disposition and happy that we could collaborate again with Sterling Organization for our second transition within 12 months.” Tyner added “Franciscan Center presented an ideal chance for buyers looking for immediate upside potential”.
Stay up-to-date on essential CRE insights from market leaders like Kidder Mathews CEO Bill Frame by attending Connect LA taking place May 3rd at Hotel Indigo .
