French Valley, Calif. — SRS Real Estate Partners has arranged the portfolio sale of three retail properties that are outparcels to French Valley Marketplace, located at 35958 Winchester Road in French Valley. A Southern California-based private developer sold the assets to a Southern California-based private investor for $17.3 million in an all-cash transaction. The three properties are:
- A 16,000-square-foot Grocery Outlet-occupied property that opened in late 2021.
- An 11,115-square-foot new construction property, which Rite Aid will occupy in late 2022.
- A 5,559-square-foot building currently under construction that Chipotle Mexican Grill and Quick Quack Car Wash will occupy in spring 2023.
Matthew Mousavi, Patrick Luther and Jack Cornell of SRS Real Estate Partners’ National Net Lease Group represented the seller and sourced the buyer in the deal.