California + Inland Empire + Retail | May 15, 2023

CBRE arranged the $27.7-million sale of a grocery-anchored shopping center in Temecula, California to RA Centers

Grocery-Anchored Temecula Center Trades for $28M

CBRE arranged the sale of Meadows Village Center, a 67,336-square-foot neighborhood grocery-anchored center in Temecula. Newport Beach based investor RA Centers paid $27.7 million.

Jimmy Slusher, Philip Voorhees and James Tyrrell of CBRE’s National Retail Partners – West (NRP – West) represented the seller, funds managed by affiliates of Fortress Investment Group LLC. The buyer completed a 1031 exchange from a property previously sold by NRP-West in Rancho Cucamonga.

Meadows Village Center is located at 31963 Rancho California Rd. in Temecula. The property is 96% leased, with a merchandising mix of 19 retailers including Barons Market, CVS Pharmacy (not part of the sale), Starbucks, Wells Fargo, Palomar Health, Subway, Crumbl Cookies, UPS Store and Pacific Dental.

“Meadows Village Center’s traditional grocery and pharmacy offering, suburban neighborhood location, recent renovations including upgraded signage, landscaping, common areas and more, proved to support increasing tenant performance at the property,” said Slusher.

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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 13-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 15-20 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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