SRS Real Estate Partners announced today it has closed the $5.95 million sale of a new construction, three-tenant, 7,226-square-foot retail building within French Valley Marketplace located at 35974 Winchester Road in Winchester, Calif. (greater Temecula market). The property includes Panera Bread, Toro Sushi that are on long-term absolute triple-net leases and one available unit.

SRS Capital Markets Senior Managing Principals Matthew Mousavi and Patrick Luther, and Vice President Jack Cornell represented the seller, a Southern California-based private developer. The buyer was a La Jolla, CA-based private investor who was in a 1031 exchange. The cap rate was 5.92% and a new loan was placed on the property.

“This is the most recent sale in the break-up strategy of French Valley Marketplace with one more pad remaining. All told, SRS has executed 11 sales with a total value in excess of $55 million on behalf of the seller/developer within this center,” said Mousavi.

Other sales at the center have included a Grocery Outlet, EoS Fitness, Chipotle, 7-Eleven, McDonald’s, and Auto Zone.

Cornell added, “This deal was structured with the Panera lease in place before a portion of it was fully constructed. The demand for French Valley Marketplace, which is well-located in a high-growth Temecula submarket, continues to attract interest and commands strong pricing.”

Temecula is the job center for southwest Riverside County with strong industry clusters including:biomedical/biotech/ life science, technology, advanced manufacturing technology, tourism and retail. Some of the more favorable attributes of Temecula include a business-friendly atmosphere, a high standard of living and high quality of life, a well-educated workforce, competitive housing prices, access to the major ports of Southern California, convenient freeway access, and centralized location between Los Angeles, San Diego, and Orange counties. Part of Temecula’s businesses attraction strategy is to be business-friendly in terms of costs. The city is host to a hub of biomedical and biotechnical advanced manufacturing companies. One of the largest companies Millipore Sigma, recently expanded their operations.

This year, SRS Capital Markets has completed more than $1.5 billion in deal volume comprised of more than 400 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion.

About SRS Real Estate Partners

Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.

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