Thank you for sharing!

Your article was successfully shared with the contacts you provided.

IRVINE, CA-The sale of a two-tenant property within the Promenade Mall in Temecula for $480 per square foot at an 8.25% cap rate and a $425-per-square-foot sale in Paramount at a sub-7% cap rate illustrate that stabilized properties in good locations still command top prices, according to a broker from Faris Lee Investments who arranged the deals. In the Temecula sale, all-cash 1031 Exchange buyer R&R Real Properties of Los Angeles bought a 10,000-square-foot retail property occupied by Verizon Wireless and the Vitamin Shoppe from Beverly Hills-based Plaza Temecula LLC for $4.8 million; in Paramount, a Los Angeles-based family trust acquired an 11,841-square-foot retail property fully occupied by Sally Beauty Supply, Payless Shoesource, West Coast Dental and Fashion Q for $5 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.