FAQ: SRS Real Estate Partners' $5.95 Million Sale at French Valley Marketplace

What property was sold and for how much?

SRS Real Estate Partners sold a newly constructed 7,226-square-foot retail building with three tenant spaces at 35974 Winchester Road in Winchester, California for $5.95 million.

Who were the parties involved in this transaction?

The seller was a Southern California-based private developer, represented by SRS Capital Markets Senior Managing Principals Matthew Mousavi and Patrick Luther, and Vice President Jack Cornell. The buyer was a La Jolla, CA-based private investor using a 1031 exchange.

What tenants are currently in the property?

The property includes Panera Bread and Toro Sushi on long-term absolute triple-net leases, with one unit currently available for lease.

What was the cap rate for this sale?

The transaction closed at a 5.92% cap rate, and a new loan was placed on the property as part of the deal.

How does this sale fit into the broader French Valley Marketplace strategy?

This is the 11th sale in the breakup strategy of French Valley Marketplace, with one more pad remaining to be sold, bringing the total value of SRS’s sales for the developer to over $55 million within this center.

What makes the Temecula market attractive for retail investment?

Temecula is the job center for southwest Riverside County with strong industry clusters, a business-friendly atmosphere, high standard of living, educated workforce, competitive housing prices, and convenient access to major Southern California ports and freeways.

What other major tenants have been part of previous sales at French Valley Marketplace?

Previous sales at the center have included Grocery Outlet, EoS Fitness, Chipotle, 7-Eleven, McDonald’s, and Auto Zone.

How significant is SRS Real Estate Partners’ overall transaction volume?

This year, SRS Capital Markets has completed more than $1.5 billion in deal volume across more than 400 transactions nationwide, with over 845 properties currently on the market valued at over $3.7 billion.

Where can I find more information about SRS Real Estate Partners?

For more information about SRS Real Estate Partners, you can visit their website at srsre.com.