Poincare Group Pays $26M for Temecula Retail Pair

Retail investor Poincare Group has acquired two adjacent retail assets, Bel Villaggio I-II & Bel Villaggio III, in Temecula, CA for $26.1 million. The properties are 100% leased to a complementary mix of what the announcement terms “internet resistant tenants” consisting of restaurants and “daily needs” goods and services.

CBRE retail investment sales specialists Kirk Brummer, Sean Heitzler and Philip D. Voorhees represented the seller, a San Diego-based private real estate investment firm, Pathfinder Partners.

Situated on more than 16 acres located at 41501 & 41221-41493 Margarita Rd., Bel Villaggio I-II & III are adjacent to Costco and Promenade Temecula.

According to CBRE’s Brummer, “The property’s ideal location at the entrance to the 1.4 million-square-foot Promenade Temecula, as well as recent leasing momentum and upward-trending rents in this affluent trade area, attracted significant investor demand.”

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