TEMECULA, CA—Rancho Temecula Town Center, a 165,486-square-foot community shopping center here, has been sold for $60 million.
CBRE senior vice president Philip Voorhees says that he and the firm's National Retail Investment Group – West completed the sale this week.
The property is anchored by a high-performing Sprouts Farmers Market along with LA Fitness, Rite Aid, BevMo! and a complementary mix of pad and shop tenants. The sale price represented a 5.6% cap rate. The center was approximately 93% occupied at the time of sale.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
