CBRE announced the all-cash sale of a free-standing restaurant, occupied by Claim Jumper in South Riverside for $3.7 million to New World, LP, a California Limited Partnership.
CBRE’s Reg Kobzi, Senior Vice President and the San Diego Investment Group, in conjunction with Jeff Pion, Vice Chairman in Los Angeles represented the buyer, as well as the seller, a private Arizona LLC.
“The acquisition of the property also provides an opportunity for the buyer to collect rent from Claim Jumper,“ said Kobzi. “This building is in a great location, situated in a high-traffic power center with strong anchors and lots of visibility from Rancho California Road—which is the entrance to Wine Country.”
The property is 11,200 square feet and is located at 29540 Rancho California Road in Temecula. The property was built in 1992 and is located in a power center anchored by Target, CVS, Vons and 24 Hour Fitness and is in proximity to the Interstate-15.
CBRE’s Reg Kobzi, Senior Vice President and the San Diego Investment Group, in conjunction with Jeff Pion, Vice Chairman in Los Angeles represented the buyer, as well as the seller, a private Arizona LLC.
“The acquisition of the property also provides an opportunity for the buyer to collect rent from Claim Jumper,“ said Kobzi. “This building is in a great location, situated in a high-traffic power center with strong anchors and lots of visibility from Rancho California Road—which is the entrance to Wine Country.”
The property is 11,200 square feet and is located at 29540 Rancho California Road in Temecula. The property was built in 1992 and is located in a power center anchored by Target, CVS, Vons and 24 Hour Fitness and is in proximity to the Interstate-15.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
