Investment Highlights
Well Known Regional Tenant with 17 Year Occupancy History
11.5 Years Remaining on Lease with 4 Additional 5 Year Options
Prominent Retail Exposure on Murrieta Hot Springs with 70,000+ VPD at Intersection
Absolute NNN/Zero Landlord Responsibilities
Rental Increase in 2025 and Each 5 Years Afterwards
Located Directly on Short Route between I-15 and I-215 On/Offramps
Executive Summary
WestMar Commercial Real Estate is proud to bring to market an extremely attractive and ideally located single tenant net lease (STNL) investment opportunity in the heart of the City of Murrieta (Temecula Valley), California. The subject property is the anchor location for a well-loved regional restaurant group called Richie's Real American Diner. This offering is for the physical improvements and the financial benefits from the attractive NNN lease which contains absolutely no landlord responsibilities. The property is perfectly situated with prominent visibility to the 70,000+ VPD that pass through the intersection on way to either the I-15 or I-215 on/offramps.The building consists of 6,966 square feet of improvements with above average quality sit-down restaurant buildout. Located on the hard corner at the signalized intersection of Hancock Avenue and Murrieta Hot Springs Road, it has been the build-to-suit home for Richie's for 18 years of the company's 32-year local operating history. The intersection also serves as the main arterial gateway to 600,000+ square feet of existing medical and professional office improvements, including the Rancho Springs Hospital, Rady Children's Primary Care facility, Crossroads Corporate Center and other esteemed and vital services. The Murrieta Pointe Shopping Center, of which it is a part, and the subject building also sit directly across from the long-awaited, and highly anticipated, Golden Triangle Lifestyle development which will ultimately consist of 1.7 million square feet of retail, hotel, office and entertainment attaractions. The developers are rumored to have anchor tenants secured and have planned for groundbreaking in the next 24 months.The Murrieta Pointe Shopping Center is a modern looking neighborhood center with an ideal mix of existing tenants, including Starbucks, Pacific Premier Bank and various retail service and medical/dental practices. This quality center, and its historically high occupancy rates, serves as an excellent home for Richie's Real American Diner today and shows promise to be even better in the future.The above information, while not guaranteed, has been secured from sources we believe to be reliable. Floor plan, site plan, price, tenant mix, and availability subject to change without notice.
