Progressive Real Estate Partners SVP Greg Bedell represented a private Los Angeles-based investor in the acquisition of an 8,781-square-foot multi-tenant retail building located at 32435 Temecula Pkwy. within Vail Ranch Plaza for $6,555,555.  The seller, a private investor, was represented by Brian Bielatowicz, Ryan Bennett and Drew Olson of Lee & Associates.

The buyer acquired this property as part of a 1031 exchange following the sale of another retail property in Walnut.  It identified the Temecula asset as an opportunity to reinvest in a newer, well-located property with a strong and diversified tenant mix.

The retail building is located along Temecula Parkway (Highway 79), one of the city’s busiest retail corridors with 42,826 cars per day. It is 100% leased to national and regional lifestyle brand Better Buzz Coffee, Orangetheory Fitness, Krak Boba and D’Or Nail Lounges. The larger Vail Ranch Plaza is anchored by Sprouts Farmers Market, PetSmart and EOS Fitness.         

Photo courtesy of Lee & Associates.

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