IE Business Daily Business news for the Inland Empire.
A 5,000-square-foot parcel in Murrieta that is occupied by a Chick-fil-A has been sold for $6.5 million.
The restaurant at 27960 Clinton Keith Road opened in March and has a 15-year ground lease attached to it, according a statement released June 24.
SRS Real Estate Partners in Dallas represented the seller and developer of the property, Sage Investco in Newport Beach. SRS also represented the buyer in the all-cash transaction, a private family trust whose name was not released.
The sale is part of a break-up strategy valued at more than $20 million for the pads at The Vineyard Shopping Center, a 26.3-acre retail project near Interstate 15. That development is anchored by Costco Wholesale and ALDI. Other parcels being marketed by SRS include Chase Bank, Chipotle and Verizon Wireless.
“We are seeing (buyers) come forward seeking high-quality real estate and certain credits, as was the case with the Chick-fil-A sale,” said Matthew Mousavi, first vice president with SRS, in the statement. “Our SRS team is pleased to complete this sale, and we look forward to the completion and sale of the remaining parcels.”
SRS has nearly 700 properties on the market that combined are worth more than $3.7 billion, according to the statement.
