A private Los Angeles-based investor has purchased a fully leased, multi-tenant retail building within Vail Ranch Plaza in Temecula as part of a 1031 exchange. The property, located at 32435 Temecula Parkway, totals 8,781 square feet and traded for $6,555,555. Progressive Real Estate Partners senior vice president Greg Bedell represented the buyer in the transaction, while the seller, a private investor, was represented by Brian Bielatowicz, Ryan Bennett and Drew Olson of Lee & Associates.
The acquisition follows the buyer’s sale of another retail asset in Walnut, with proceeds reinvested into the Temecula property to complete the like-kind exchange. According to the parties involved, the investor targeted this asset to move capital into a newer, well-located retail building featuring a diversified tenant base. The transaction structure underscores the continued use of 1031 exchanges by private investors seeking to reposition portfolios while maintaining exposure to income-producing retail assets.
The property benefits from visibility and access along Temecula Parkway, also known as Highway 79, which is described as one of the city’s busiest retail corridors. Traffic counts along this stretch reach 42,826 cars per day, providing steady exposure for tenants and reinforcing the property’s positioning within the local retail landscape. The building is 100% occupied by a mix of national and regional lifestyle-oriented tenants, including Better Buzz Coffee, Orangetheory Fitness, Krak Boba and D’Or Nail Lounges.
The multi-tenant building is situated within the larger Vail Ranch Plaza, a grocery-anchored and service-oriented retail center. The broader plaza is anchored by Sprouts Farmers Market, PetSmart and EOS Fitness, adding daily-needs and fitness traffic to the site and contributing to the overall drawing power of the location. The presence of these anchors complements the lifestyle and service tenants in the acquired building and supports cross-shopping within the center.
Representation on both sides of the deal highlights active brokerage involvement in private retail investment trades in Temecula. Progressive Real Estate Partners advised the Los Angeles-based buyer, while Lee & Associates provided disposition services for the selling private investor. The fully leased status of the building at closing, combined with its location in a high-traffic corridor and its placement within an anchored shopping center, positions the asset as a stabilized retail investment within the Temecula market.
Photo courtesy of Lee & Associates.
