Murrieta, Calif. – The property value increased from $9.3 million in the past two years due to aggressive leasing efforts.
Murrieta, Calif. – Wilson Commercial Real Estate has brokered the sale of the 230,000-square-foot Murrieta Crossing shopping center in the Inland Empire to La Jolla, Calif.-based CIRE Equity for $16.5 million. The seller was Sacramento-based Bluett & Associates. The development is anchored by Aces Comedy Club, Anti Gravity Yoga, Easylife Furniture, Mor Furniture for Less and Sit ‘n Sleep. “Our leasing team was able to reposition the asset, taking it from 16 percent to 91 percent occupancy during the past two years,” WCRE Senior Vice President Shauna Mattis says. “As a result of our leasing efforts we were able to increase the property’s value from $9.3 million to $16.5 million.”
— Scott Reid