Burlingame and Pleasanton, Calif. and Honolulu — West Palm Beach, Florida-based Sterling Organization has acquired three shopping centers totaling 277,057 square feet in California and Hawaii. The portfolio included Safeway Burlingame in Burlingame; Pleasanton Gateway Shopping Center in Pleasanton; and Kapahulu Shopping Center in Honolulu. Collectively, the properties were 99 percent leased at the time of sale and are each anchored by a Safeway grocery store.
Safeway Burlingame totals 70,174 square feet. Alongside Safeway, additional tenants at the fully leased property include Union Bank, AT&T, StretchLab, Five Guys, Drybar and Great Clips.
Pleasanton Gateway Shopping Center, a 128,275-square-foot retail center, was 99 percent leased at the time of sale and features several tenants such as CVS Pharmacy, Wells Fargo, Starbucks, Panda Express and The Habit Burger Grill…