Tourmaline Capital Sells Center Pointe Retail Center in Menifee, California for $24.6M

Sprouts Farmers Market is a tenant at the 41,461-square-foot Center Pointe retail center in Menifee, Calif.

MENIFEE, CALIF. — Tourmaline Capital has completed the disposition of Center Pointe, a newly developed shopping center located at 27281 Newport Road in Menifee. A private 1031 exchange buyer acquired the asset for $24.6 million.

Sprouts Farmers Market, Wendy’s, Olive Garden, Tacos & Tequila and Paris Nails are tenants at the 41,461-square-foot property. At the time of sale, the retail center was 96 percent leased.

Gleb Lvovich, Daniel Tyner and Geoff Tranchina of JLL Retail Capital Markets represented the seller in the deal.