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Starbucks-Anchored Shops at Gateway Sold in Temecula
Hanley Investment Group Real Estate Advisors arranged the $7.2-million sale of The Shops at Gateway to Temecula, an 8,325-square-foot multi-tenant retail investment in Temecula. The Starbucks-anchored property includes a mix of internet-resistant tenants on 2.05 acres. The deal works out to a 5.50% cap rate.
Located 30010 Temecula Parkway near a 15 Freeway on/off-ramp, the 2018-built property features a freestanding, 24-hour, drive-thru Starbucks and a 6,312-square-foot three-tenant retail pad building with Verizon, The Pizza Press and Sakura Sushi and is shadow-anchored by a newly built LA Fitness.
The buyer was an undisclosed private Redlands investor that was represented by Lee & Associates’ Brian Melkesian. Hanley Investment Group’s Austin Blodgett, Eric Wohl, and CJ Kiehler represented the seller, Corona-based Pacific Real Estate.
Blodgett says, “Despite the economic impact of the lockdown, it was the location that got the buyer comfortable. The Temecula Valley is booming, and this property is located at a premier corner within the market.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




