Shops At Gateway To Temecula Sells For $7.15M

TEMECULA, CA — A deal has been struck on a Temecula strip mall that was up for sale, it was reported Monday.

The 8,325-square-foot Shops at Gateway to Temecula has sold for $7,150,000, according to Hanley Investment Group Real Estate Advisors, which represented the seller, Pacific Real Estate of Corona.

The property was sold to a private investor from Redlands, according to Hanley.

The listing price was $7,393,000.

The 2.05-acre property at 30010 Temecula Parkway, just east of Interstate 15, was built in 2018 and is home to a Starbucks drive-thru, Verizon, The Pizza Press, and Sakura Sushi.

Hanley said the current tenants are “internet-resistant.”

Despite the economic impact of coronavirus, the property’s location got the buyer comfortable, said Hanley Investment Group’s Vice President Austin Blodget.

“The Temecula Valley is booming, and this property is located at a premier corner within the market. This is a great comp for any

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Large Mount Wellington Industrial Site For Sale Offers Gateway To Add-value Options


228
Marua Road.

The industrial land and
building housing a leading Auckland fencing supplier has
been placed on the market for sale with a range of add-value
and redevelopment options.

The three-storey building
on a freehold site at 228-230 Marua Road, in the heart of
the Mount Wellington/Ellerslie industrial precinct, is fully
leased to pool fencing and balustrade specialists City
Fencing Limited – with additional rental from a cell phone
tower operated by New Zealand’s largest mobile phone
operator.

The Marua Road property generates holding
income of $100,712 plus GST per annum. City Fencing Limited
pays annual rent of $90,000 plus GST for its office,
showroom and workroom space on a lease running through to
2021, with a further six-month right of renewal.

A
Vodafone cellphone tower at the site generates income of
$10,712 plus GST per annum on

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How About Moving To A Gateway Community?

An article in Fast Company, “Zoomtowns are exploding in the West”, reports on migration between large cities in the western United States and small towns close to tourist sites, ski resorts or natural parks, the so-called gateway communities.

Zoomtowns, the name of the new phenomenon, references the boomtowns of old with the impact of the pandemic on the possibility of working from home or anywhere with a reasonable internet connection.

The movement of people who can afford to do so because they have the resources or because they work for companies with long-term work-from-home policies, puts pressure on host communities due to gentrification: towns and smaller cities often lack the services and infrastructure required to meet the new and growing demand, property prices rise rapidly, and many of the people who traditionally lived in them, in many cases serving nearby tourist attractions, are virtually driven out by the price

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