Temecula Tesla Results in Highest Price PSF for Industrial Property

A Tesla sales and service center, a 21,382-square-foot net-leased property in Temecula, recently sold to an all-cash buyer for an undisclosed purchase price. The center is located at 43191 Rancho Way.

“This is a rare high-profile transaction in the local market that resulted in the highest price-per-square foot for industrial properties in the area and record cap rate. The asset is a renovated industrial building on a new 10-year lease that was converted into an auto sales and service center for Tesla. The property sold to a private all-cash 1031 buyer in a 30-day escrow. The sale is a testament to the hottest net-lease market I’ve seen in my career, with an influx of capital coming from both the private and institutional arenas,” said Jon Talia, associate with Marcus & Millichap.

Alvin Mansour and Talia, investment specialists in the firm’s San Diego downtown office, had the exclusive listing to market the property on behalf of the seller.