Fully Leased Temecula Retail Sells in 1031 Exchange

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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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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