By Laura Waxmann | Mar 2, 2022 | San Francisco Business Times

Even as parts of San Francisco are riddled with retail vacancies, a Florida real estate equity firm is entering the market with an eye on future opportunities.

West Palm Beach-based Sterling Organization, which is focused on investing in last-mile consumer fulfillment and distribution assets across major markets, closed on two retail buildings in the city at the end of 2021.

We told you last week about the company’s purchase of the former home of the Disney Store in Union Square, and word came Wednesday that Sterling also purchased a vacant 37,800-square-foot building that once housed Don’s Auto Body shop in the Nob Hill and Polk Gulch neighborhoods. Addresses affiliated with the building, two blocks from Van Ness Street, are 1200 Larkin St. and 1270 Bush St.

Separate funds were behind both of the acquisitions, said Kurt Grundman of Lockehouse Retail Group, which represented Sterling in Larkin Street acquisition. Mark Geisreiter of Newmark represented seller Paceline Investors LLC.

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