SRS’ National Net Lease Group Brokers the $9.55 Million Sale of Retail Property in Hemet

Sale Marks One of the Highest Priced Retail Centers Sold in the City in More than 5 Years

COMMERCIAL REAL ESTATE TRANSACTION ALERT

SRS Real Estate Partners’ National Net Lease Group (NNLG) announced today it has completed the $9.55 million sale of Shops at KPC Towne Centre located at 2375 – 2465 W. Florida Avenue in Hemet, CA. Situated on two acres, the fully occupied three-building property totals 20,167 square feet and includes eight tenants. This sale marks one of the highest-priced retail centers sold in the City of Hemet (Inland Empire) in more than five years.

SRS NNLG’s Managing Principals Matthew Mousavi and Patrick Luther and Associate Max Sabino represented the seller and original developer, a private family trust based in Southern California. The buyer, a Los Angeles-based private investor was represented by Jason Paukovits of dream Realty Asset Management.

“This property offered the buyer a strong mix of ecommerce-resistant tenants and a hard corner, highly visible location with a strong line up of food and service uses, including Chipotle, T-Mobile, Chuck E Cheese, and Dominos, among others,” said Mousavi. “We marketed this well-located, pad to this Sprouts-anchored shopping center to our network of investors and brokers, securing multiple offers and achieving a great result for both parties.”

Built in 1995 and remodeled in 2004, the highly visible property is situated at the signalized intersection of W. Florida Avenue/State Highway 74 and Kirby Street. The property is an outparcel to KPC Towne Center which includes Spouts, Burlington, and Regal Cinemas.

Year-to-date, SRS’ National Net Lease Group (NNLG) has completed more than 580 transactions valued in excess of $1.8 billion and has in excess of $2.0 billion in property on the market.