November 23, 2015
Temecula Town Center is the site of one of the newest retail transactions in the Inland Empire. Citivest Commercial Investments and Ares Management purchased the retail center for $60 million. The seller was BACM 2006-5 Rancho California Limited Partnership, and the transaction was auction style, with bids beginning in August.
Temecula Town Center encompasses 241,980 square feet, and is reportedly 85 percent occupied. Among its tenants are CVS, HomeGoods, 24 Hour Fitness, and Chase Bank. Temecula Town Center is the first regional shopping center to be built in a Riverside County master-planned community.
Colliers International vice presidents Michelle Schierberl and Donald Ellis brokered the deal.