Pathfinder Partners based in La Jolla has sold a pair of adjacent shopping centers in Temecula for a combined price of $26.1 million.
Bel Villaggio I-II and Bel Villaggio III were acquired by Poincare Group.
The sale was brokered on behalf of Pathfinder Partners by Kirk Brummer, Sean Heitzler and Philip D. Voorhees of CBRE.
The shopping centers are at 41501 and 41221-41493 Margarita Road adjacent to Costco and Promenade Temecula.
“The property’s ideal location at the entrance to the 1.4 million square-foot Promenade Temecula, as well as recent leasing momentum and upward-tending rents in this affluent trade area attracted significant investor demand. The potential to generate healthy yields for such a strong location made this acquisition a perfect fit for the buyer,” Brummer said.
Real estate reporter Ray Huard may be reached at email@example.com or 858-277-8904.