NEWPORT BEACH – SRS Real Estate Partners announced on Tuesday, Sept. 24 it has completed the $5 million sale of a two-tenant retail property located at 27970 Clinton Keith Road in Murrieta. The property was recently built in spring 2024 and is fully occupied by Verizon Wireless and Chipotle Mexican Grill (with drive-thru). Both tenants have 10-year, corporate-guaranteed triple-net leases in place.
This transaction has broken two sales records for new construction multi-tenant retail properties in Southern California over the last 12 months, with a record low cap rate of 4.93% and the highest price per square foot of $975.
SRS Capital Markets Vice President Winston Guest and Managing Principals Matthew Mousavi and Patrick Luther represented the seller, a California-based private develop
