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New Single-Tenant LA Fitness in Temecula Trades for $13M
Hanley Investment Group Real Estate Advisors arranged the $13-million sale of a brand-new single-tenant net-lease investment occupied by LA Fitness in Temecula, CA. The sale price represents a cap rate of 6.13%.
Completed earlier this year, the new 37,000-square-foot single-tenant building is situated on 3.69 acres at 29920 Temecula Pkwy. The property sits at the intersection of Temecula Parkway (CA-79) and Interstate-15, the first major thoroughfare for traffic entering the Temecula Valley.
The buyer, an unnamed Los Angeles family trust, was represented by R&L Properties-Cerritos Inc.’s Richard Lee. Hanley’s Austin Blodgett and Eric Wohl represented the Irvine, CA-based private developer seller.
LA Fitness executed a new 15-year primary lease term with a number of renewal options. Blodgett says, “This is a rare sale of a single-tenant LA Fitness in Southern California. This location has low rent for a new-construction LA Fitness, which is what ultimately got the buyer comfortable paying this cap rate.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




