United Growth Acquires Temecula Property From Vail Commercial For $19.7M With Brokers Matt Brooks And Joe Chichester
32881 Temecula Pkwy, Temecula, CA 92592, USA
$19,700,000
$279/SF
Building Size
70,418 SF
Asset Type
Other
Closing
Nov 20, 2023
AI
A value-add shopping center located at 32881-32965 Temecula Parkway in Temecula has been sold. The property features a total square footage of 70,418 and is situated on 7.6 acres. The sale price was $19,700,000. Tenants at the shopping center include Best Buy and Fitness 19.
Summary of transaction details:
- Property Type: Shopping Center
- Transaction Amount: $19,700,000
- Address: 32881 Temecula Pkwy, Temecula, CA
- Market: Temecula
- Buyer: United Growth
- Seller: Vail Commercial
- Buyer's Representatives: Matt Brooks and Joe Chichester - Faris Lee Investments
Faris Lee Investments facilitated the transaction, with Joe Chichester and Matt Brooks serving as the representatives for the buyer, United Growth. The sale reflects a strategic acquisition within the Temecula market.
Players
Temecula Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93