SRS Real Estate Partners Completes Sale Of Retail Asset In Temecula For $9.8 Million

The asset involved in this transaction is a retail property located at 32909 Temecula Parkway in Temecula, California. The sale price for this property was $9,800,000, encompassing a total square footage of 30,057. The property sits on 4.1 acres of land, with a price per square foot (PPSF) of $326.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $9,800,000
• Square Footage: 30,057
• Address: 32909 Temecula Parkway
• Market: Temecula
• Acres: 4.1
• PPSF: $326
• Brokers: Joe Chichester & John Redfield - SRS Real Estate Partners

SRS Real Estate Partners, represented by brokers Joe Chichester and John Redfield, completed the sale, which was part of a four-parcel disposition totaling $26.46 million. The brokers executed a break-up strategy that enhanced the value of the center by $6.8 million over a 3.5-year hold period, representing the private seller in this transaction.