Tower Plaza

Temecula, CA

Download Offering Memorandum

The Offering

Summary

  • Address: 27401, 27404-27531 Ynez Rd, Temecula, CA 92591
  • APN: 921-270-055, 921-260-026
  • Lot size: 13.22 Acres of Land
  • Building size ±132,194 SF
  • Parking: 612 Parking Spaces, 4.5:1,000 SF
  • Year Built: 1969 / 1988

Institutional Property Advisors (“IPA”) is pleased to offer the opportunity to acquire Tower Plaza (“the Property”), a 97% leased, 132,194 square-foot grocery-anchored shopping center in the Southern California city of Temecula. The Property features an internet-resilient tenant roster comprised of 88 Ranch Marketplace, AMC Theaters and Armstrong Garden Centers, among others. Located along one of the trade area’s most heavily trafficked thoroughfares, Tower Plaza is ideally situated adjacent to the Temecula Valley Freeway (+/- 180,000 cpd) and Rancho California Road (+/- 37,000 cpd), and benefits from a dense and affluent customer base. The Property offers investors the opportunity to acquire a grocery anchored shopping center with an attractive in-place levered yield approaching 10%, and additional upside by rolling existing tenants to market.

Property Highlights

» High performing shopping center anchored by a grocer and AMC theatre

» Innovative and experiential open-air layout

» Excellent location within the Temecula retail hub

» Opportunity to capitalize on AMC’s movie theater brand, multi-million-dollar renovation and lease extension with attractive options

» Armstrong Garden Centers is a regional draw and attracts consumers from various communities throughout the trade area

» Located in Riverside County, one of the fastest growing counties in the UnitedStates

» Exceptional visibility from the I-15 and Rancho California Road and exposure from over 178,922 cars per day

» 1,500 feet of frontage along I-15 and 1,500 feet of frontage along Ynez Road
» High occupancy levels at 96.9% and low lease turnover

» 88 Ranch Marketplace below market at $12.16 PSF gross

» 3.31% CAGR

» Significantly below replacement cost

» Located adjacent to developing Uptown Temecula Specific Plan Area

» Property includes pre-existing assumable debt - 4.12% IO, 7 years remaining

» Attractive cash-on-cash of 12.38%

Siteplan

map

Demographics

Trade Area Demographics

1 Mile
3 Miles
5 Miles
2021 Population (CoStar)
66,571
171,688
345,817
2026 Population Projection (CoStar)
70,127
181,101
365,769
Median Home Value (CoStar)
$444,950
$448,012
$451,165
Median Age (CoStar)
35.9
35.5
35.8
Avg Household Income (CoStar)
$111,428
$119,914
$123,079
Median Household Income (CoStar)
$89,983
$99,077
$102,514

Team

Brokerage team

TOM LAGOS

Executive Director
License # - 01519359
C +1 (310) 722 8939

PATRICK TOOMEY

Executive Director
License # - 00881133
C +1 (310) 403 4984

JOSE CARRAZANA

Director
License # - 01756392
C +1 (818) 437 1266

JESSICA BARAM

Associate
License # - 02093097
C +1 (310) 818 6794

MO NARAGHI

Analyst
License # - 02118975
C +1 (832) 875 4633

BRIAN BIELATOWICZ

Senior Vice President
License # - 01269887
C +1 (951) 445 4515

Property Overview

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