December 22, 2017
New World, LP, a California Limited Partnership, acquired a free-standing restaurant in Temecula, CA occupied by Claim Jumper in South Riverside for $3.7 million. The all-cash sale involves a 11,200-square-foot building located at 29540 Rancho California Rd.
The property is located in a power center anchored by Target, CVS, Vons, and 24 Hour Fitness. it was built in 1992, and is in proximity to Interstate 15.
CBRE’s Reg Kobzi, in conjunction with Jeff Pion, represented the buyer, as well as the seller, an unnamed private Arizona LLC.
Kobzi says, “The acquisition of the property also provides an opportunity for the buyer to collect rent from Claim Jumper. 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.”
For comments, questions or concerns, please contact Dennis Kaiser