CBRE announced the sale of Meadows Village Center, a 67,336-square foot neighborhood grocery-anchored center featuring Barons Market and CVS Pharmacy (not a part of the sale) in Temecula to Newport Beach-based investor, RA Centers, for $27.7 million.
Jimmy Slusher, Philip Voorhees and James Tyrrell of CBRE’s National Retail Partners - West represented the seller, funds managed by affiliates of Fortress Investment Group LLC, in the transaction. The buyer, RA Centers, completed a 1031 exchange from a property previously sold by NRP-West in Rancho Cucamonga.
Meadows Village Center is located at 31963 Rancho California Road on 7.98 acres in Temecula. The property is 96% leased, with a merchandising mix of 19 local, national and regional retailers, including Barons Market, CVS Pharmacy (NAP
