MULTI-TENANT RETAIL/OFFICE, VILLAGE @ PASEO DEL SOL

TEMECULA, CA

$2,660,000

8,620 SQ FT.

Multi-Tenant-Retail-Office

AT A GLANCE

  • Dense/in-fill location with high surrounding average household incomes ($113,000).

  • Diverse tenant mix of food, dental, and office tenants.

  • Opportunity to purchase a portion of the "dominant" retail center in the trade area / strong historical performance.

CHALLENGES

  • Buyer's broker specialized in residential real estate with minimal experience in commercial properties.

  • Lender requires 100% of tenants, including moms and pops, to provide notarized SNDAs.

  • Property featured a dark tenant, one vacancy, and month-to-month tenant.

MARKETING STRATEGY

  • Targeted local investors and 1031 trade buyers.

  • Highlighted strenght of the trade area in marketing package and eblasts.

  • Aggressive email and follow up call campaign to locate buyers.

RESULTS

  • Local buyer that owned a rance (2nd Home) in Temecula looking for an investment property in the trade area.

  • Worked closely with buyer's broker, buyer's lender, and buyer to ensure all parties were aligned throughout the transaction.

  • Close at an aggressive cap rate despite a dark tenant, one vacancy, and month-to-month rent.