CBRE recently negotiated the sale of the Tower Office Plaza in Temecula for $13.8 million to Level Asset Capital. Matt Pourcho, Anthony DeLorenzo, Matt Harris and Bryan Johnson of CBRE’s Investment Properties represented the seller, Providence Real Estate Group.
“Office sales in the Temecula and Murrieta areas remain strong and are somewhat isolated from all the corporate downsizing you hear about,” said Pourcho.
The Class A office building at 27555 Ynez Rd. sits within Tower Plaza, a remodeled grocery-anchored retail center. In addition to the four-story 71,775-square-foot-office building, the property includes a two-story parking structure and an oversized pond water feature.
Hugo Cosio of Level Asset Capital represented the company in the purchase. The property is currently 94% occupied.
Photo courtesy of Lee & Associates.
