Hanley Investment Group Directs $13M Sale of LA Fitness-Occupied Property in Temecula
TEMECULA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly delivered retail property located at 29920 Temecula Parkway in Temecula. An Irvine-based private developer sold the asset for $13 million.
Completed earlier this year, the 37,000-square-foot property is situated on 3.7 acres with frontage on Temecula Parkway. LA Fitness occupies the single-tenant property on a net-lease basis. The asset is an anchor to The Gateway to Temecula, a lifestyle center that contains approximately 61,000 square feet of commercial space, including Starbucks Coffee, Chevron, Verizon Wireless, The Pizza Press and a 4,000 square feet of office space.
Austin Blodgett and Eric Wohl of Hanley Investment represented the seller, while Corona-based R&L Properties-Cerritos represented the buyer in the transaction.