Temecula shopping center sells for $27.7 million

A neighborhood shopping center in Temecula has been sold for $27.7 million.

Meadows Village Center was purchased recently by RA Center, a Newport Beach-based investment group, according to a statement released by CBRE’s National Retail Partners-West.

CBRE represented the seller, and affiliates of Fortress Investment Group LLC, a global investment firm in Los Angeles with nearly $46 billion in assets.

Meadows Village Center sits on eight acres at 31963 Rancho California Road. Nearly fully leased, its tenants are Barons Market, CVS Pharmacy, Starbucks, Wells Fargo, and UPS.  The shopping center serves some of Temecula’s more affluent neighborhoods as well as visitors to the city’s wineries, according to CBRE.