Temecula, California – Our information tonight is on Net Lease Properties in California. A Commercial Real Estate Investment Company purchased the Rancho Temecula Town Center for $48 million. This Company, A & B Properties, Inc. has a Commercial Investment Property Portfolio that includes triple net lease properties, Retail Properties, Office and Industrial property. Their diversified commercial real estate investment portfolio is situated in Hawaii and seven mainland states. This Commercial Real Estate Investment Company, A & B Properties has a great investment strategy for others to follow. This California Net Lease Property was built in 1997.
A & B Properties, Inc., is a commercial real estate subsidiary of Alexander & Baldwin, Inc. (ALEX). They acquired the California Commercial Property, Rancho Temecula Town Center for $48 million. This Retail Shopping Center is approximately 165,557 square-feet, with 11-buildings in this neighborhood retail shopping center. This net leased property is located in Temecula, which is situated in the southwest region of Riverside County. The Company used cash from a 1031 Exchange, to purchase this Prime Grocery and Rite-Aid Pharmacy-Anchored Retail Shopping Center. There is no information yet if Commercial Loans were needed with the cash from the 1031 Exchange.
This net leased property is mainly at 39540 Winchester Road, Temecula, CA 92592. The Retail Shopping Center is approximately 20 acres of beautiful property in the heart of Temecula. The Developer of this net lease property was Pacific Development Partners. The Retail Shopping Center was constructed in 2007. This net lease property is one of Temucula’s best performing retail centers.
This Retail Shopping Center is positioned at the signalized intersection (NEC) of Winchester Road and Nicholas Road. This is known as Temecula’s primary retail business district. This net leased property is sitting across from Chapparal High School with about 3,000+ students for retail traffic. These factors benefit NNN Commercial Real Estate. The Retail Shopping Center is about one block north of the Promenade Regional Mall. The California Commercial Property, Promenade Regional Mall, is anchored by Macy’s, JC Penney’s, Sears and has Edwards Cinemas for entertainment.
The Net Lease Property purchase of Rancho Temecula Town Center fits into the A & B Properties commercial real estate strategy. They invest in quality net lease properties located in areas having above-average growth prospects and favorable demographics. They believe that Temecula is expected to see continued population growth as an attractive alternative to neighboring Los Angeles, Orange and San Diego Counties. The net lease property is well-anchored by Henry’s Market, LA Fitness, and Rite-Aid and more. This net leased Retail Shopping Center was approximately 97% occupied at the property closing.
A list of more Tenants leasing at this Retail Shopping Center:
Beverages & More (BevMo)
Melting Pot Restaurant
EZ Take Out Burger
SanSai Sushi
Rite-Aid Drug Store
Brite Now Dental
Navy Federal Credit Union
Starbucks Coffee
Marine Corp Recruiting Office (Please Support Our Military)
Juice it Up
Go Wireless
First Bank
Rodrigo’s
Pho Pho Restaurant (Vietnamese Restaurant)
We have more information on Alexander & Baldwin. A & B is headquartered in Honolulu, Hawaii. They are engaged in ocean transportation and logistics services through its subsidiaries, Matson Navigation Company, Inc., Matson Integrated Logistics, Inc. and Matson Global Distribution Services; in real estate through A&B Properties, Inc.; and in agribusiness through Hawaiian Commercial & Sugar Company and Kauai Coffee Company, Inc.
Contact Net Lease Properties to purchase Commercial Real Estate all across the Country.
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