**1031 Exchange Advances Break-Up Strategy at Winchester Retail Center**
SRS Real Estate Partners has completed the $5.95 million sale of a newly constructed, three-tenant retail building located within the French Valley Marketplace in Winchester, part of southwest Riverside County. The 7,226-square-foot property, situated at 35974 Winchester Road, features Panera Bread and Toro Sushi—both secured under long-term absolute triple-net leases. One unit remains available for lease.
The transaction was facilitated by SRS Senior Managing Principals Matthew Mousavi and Patrick Luther, along with Vice President Jack Cornell, who represented the seller, a private developer based in Southern California. The buyer, a private investor from La Jolla, acquired the asset as part of a 1031 exchange. The deal closed at a 5.92% cap rate with new financing secured for the acquisition.
“This is the most recent sale in the break-up strategy of French Valley Marketplace, with one more pad remaining,” said Mousavi. “Overall, SRS has executed 11 sales totaling more than $55 million on behalf of the seller within this center.”
Previous transactions at the French Valley Marketplace have included tenants such as Grocery Outlet, EoS Fitness, Chipotle, 7-Eleven, McDonald’s and AutoZone, underscoring the center’s strong retail mix and investment appeal.
