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