LAKE ELSINORE, CALIF. — SRS Real Estate Partners’ National Net Lease Group has arranged the sale of a single-tenant retail property located at 16810 Lakeshore Drive in Lake Elsinore. A partnership specializing in the ownership of net-lease properties sold the asset to an undisclosed Southern California buyer for $3 million, or $1,957 per square foot.
Del Taco occupies the 1,558-square-foot building with 12.5 years remaining on its corporate-guaranteed, 15-year, absolute triple-net lease.
Matthew Mousavi and Patrick Luther of SRS’ National Net Lease Group represented the seller, while Chris Itule of Itule Real Estate Group represented the buyer in the all-cash transaction.