TEMECULA, CA – March 4, 2013 – (RealEstateRama) — Cheryl Pestorwith NAI Capital’s Pasadena office represented the Seller, Community Commerce Bank, in the sale of a 17,558 SF retail property located at the Temecula Rancho Center to the Buyer, JA Plaza, LLC. The value of the sales transaction was approximately $1.4 Mil.
“This service oriented shopping center was only 36% occupied at the time of the sale, giving the Buyer income to cover operating expenses, while offering the opportunity to benefit from great upside by leasing up the vacant spaces. Selling at $79.73 per building square foot, a signalized corner with great visibility and two blocks west of the I-15 freeway were very attractive to the Buyer,” said Cheryl Pestor, Senior Vice President at NAI Capital.
The free standing one story building was built in 1985 and features ten individual suites with ample parking. The property is located at the signalized intersection of Jefferson Avenue & Via Montezuma with excellent street visibility and monument signage. The majority of suites were built out to meet the needs of office users. The property is surrounded by a busy office and industrial area comprised of national retailers such as Macy’s, Edwards Cinema, Regal Theaters, JC Penny, Sears and more.
Temecula is centrally located along the I-15/I-215 Freeway in Southwestern Riverside County and just north of the San Diego county line. Temecula is bordered by Murrieta and nearby the Pechanga Indian Resort and Casino.
About NAI Capital
NAI Capital is a leading Southern California commercial real estate firm headquartered in Encino, California. With 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties, NAI Capital is the Southern California affiliate of NAI Global, a premier real estate service network with 350 offices spanning the globe. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. Our extensive services include: multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.naicapital.com NAI Capital Brokerage DRE #00806840
Contact: Sharon Fitzgerald, Public Relations, 818.742.1655
Public Relations Manager
NAI Capital, Inc.
16001 Ventura Blvd., 2nd Floor
Encino, CA 91436
Office: (818) 905 2400 x 155
Direct: (818) 742-1655
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