CBRE Arranges Sale of 2 Inland Empire Retail Assets
- Feb 06, 2020
CBRE and National Retail Partners-West have completed the sale of two adjacent retail centers in Temecula, Calif. CBRE Director Kirk Brummer, Associate Sean Heitzler and Vice Chairman Philip Voorhees worked on behalf of the seller, Pathfinder Partners, a San Diego-based firm. Poincare Group LLC acquired the assets for a combined price of $26.1 million.
Since acquiring Bel Villaggio I-II and III in 2013, Pathfinder has managed, leased and renovated the two properties. The tenant roster at the two centers include a complementary mix of restaurants, retail and services including Aiyara Thai Cuisine, Sola Salon Studios, Romano’s Macaroni Grill and Wild Barrel Brewing.
Located at 41501 and 41221-41493 Margarita Road on approximately 16 acres, the properties are adjacent to the 1.4 million-square-foot Promenade Temecula and are within 1 mile of Interstate 15 and 3 miles from central Temecula. French Valley Commons, W Development Partners’ nine-building mixed-use project in Winchester that recently landed construction financing and broke ground, is located roughly 5 miles north.
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