IE Business Daily Business news for the Inland Empire.
A Murrieta property that is occupied by a Chase Bank has been sold for $4 million.
The 1.5-acre parcel at 27980 Clinton Keith Road is in the Vineyard Shopping Center, a 26.3-acre project anchored by a Costco Wholesale store, according to SRS Retail Partners.
SRS represented the seller a California-based developer. The buyer was a private investor in California. Both parties wished to remain anonymous.
Chase has a 20-year lease on the property. Construction on the branch office was completed this year.
More than 208,000 residents, and 48,000 employees, live and work within a five-mile radius of the center.
“Chase’s long-term 20-year lease provided the new ownership with a very secure long-term investment with zero landlord responsibilities,” said Winston Guest, senior vice president with SRS, in the statement. “Additionally, this location is within a growing and affluent area and is positioned on the most prominent and visible corner entrance of The Vineyard Shopping Center.”
