JLL Capital Markets has arranged the sale of Slatten Ranch Shopping Center, a 118,187-square-foot community retail property in Antioch, with Sterling Organization emerging as the buyer. The open-air center was sold by Camden Village, LLC, which engaged a JLL Capital Markets team to handle the transaction and seller representation.
The JLL team was led by managing director Eric Kathrein, senior managing director Gleb Lvovich, director Andrew Spangenberg and associate Allie Repaskey. According to JLL, Sterling Organization acquired the property for $31 million, adding the center to its value-add retail portfolio.
Kathrein described Slatten Ranch Shopping Center as a rare chance to purchase a regionally dominant, institutional-quality community center that still offers meaningful value-add potential. He noted that the deal reflects what value-add capital is currently targeting in the marketplace, with investors looking for established retail assets that can benefit from repositioning or leasing initiatives.
Slatten Ranch Shopping Center is located at 5709-5759 and 5779-5789 Lone Tree Way in Antioch. The property benefits from more than 1,400 feet of linear frontage along Highway 4, providing direct visibility and access to traffic volumes that exceed 100,000 vehicles per day, based on JLL’s information about the site.
The center is shadow-anchored by a Target store that JLL characterizes as one of the strongest performers in the retailer’s national portfolio. The Target location is ranked No. 20 in the chain and sits in the 98th percentile for performance nationwide, offering a significant draw for surrounding retailers at Slatten Ranch and reinforcing the property’s regional role.
With this transaction, Sterling Organization expands its holdings with a community retail center that combines strong traffic exposure, proximity to a top-performing national retailer and an opportunity to execute on a value-add business plan. JLL Capital Markets’ involvement underscores continued capital markets activity for well-located suburban retail centers that exhibit both institutional characteristics and upside potential.
