IE Business Daily Business news for the Inland Empire.
Rancho Temecula Town Center has been sold.
The 165,486-square-foot shopping center at Winchester and Nicolas roads sold for $60 million, according to a statement released Tuesday by CBRE Group Inc.
The facility, which was opened in 2007, includes Starbucks, Navy Federal Credit Union, Juice It Up, Bev Mo, and Wings-N-Things. It was 93 percent occupied at the time of the sale, which was announced Tuesday, according to the statement.
CBRE represented the seller, a partnership between an affiliate of Walton Street Capital, a private equity firm in Chicago, and Alberta Development Partners in Colorado.
CBRE also represented the buyer, LaSalle Investment Management Inc., which was acting as an advisor to Jones Lang LaSalle Income Property Trust, according to the statement.
