The Grubb & Ellis team included Michelle Schierberl and Ryan Schierberl of the company's Newport Beach office, who represented the seller in the transaction. The firm also represented the buyer, with Grubb & Ellis|BRE Commercial brokers Michael Roberts and Steve Rowland of the firm's San Diego office on that side of the deal.
The seller was David J. Esoldi, trustee of the Esoldi Family Trust. The buyer was Pany Haritatos, president of Springhawk TCV Inc.
The Temecula Creek Village is located at 31213, 31285, 31309 and 31333 Highway 79 South, in an area where a new retail corridor has developed in recent years, with traffic counts approaching 85,000 cars per day. Grubb & Ellis, in describing the area recently, noted that the rapidly growing Southern Riverside region "is an appealing market toSan Diego firms as well as out-of-town companies looking to expand their business." The population increase in the area "has created an unusually strong commercial real estate market, specifically retail," it said.
The Temecula Creek Village project, completed in 2005, is situated on three separate parcels totaling 4.26 acres and is fully leased. The Grubb & Ellis brokers describe the center's roster as a mix of retail and office tenants ranging from restaurants and service-oriented retailers to medical practices, accountants and law firms.
Tenants include Umai Sushi, Baja Cactus, Subway, Mama Colletti's Italian Bistro, Sala Thai Cuisine Restaurant, TLC Financial Network and Chiropractic Pain & Wellness Center.
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