The Courtyard - 36,474 Multi-Tenant Office

TEMECULA, CALIF. — The Temecula Professional Center, a ±36,747-square-foot multi-tenant office asset, has been acquired in a Q4 2025 investment sale. Located at 27349 Jefferson Avenue near the I-15 and Winchester Road corridors, the property features 29 suites across two buildings and is anchored by a diversified mix of professional and medical tenants.

Seaway Properties Real Estate Inc. represented both the buyer and seller in the transaction, with the deal executed by the firm’s brokerage team of Craig Way, Emily Beck, and President Kyle Fried. The asset attracted multiple investor groups due to its scale, high occupancy, and submarket positioning.

Property Overview

• Name: The Courtyard

• Address: 27349 Jefferson Ave, Temecula, CA

• Size: ±36,747 Rentable Square Feet

• Occupancy: 26 tenants across 29 suites

• Use Type: Multi-Tenant Professional & Medical Office

• Submarket: Southwest Riverside County – Temecula Office

• Transaction Type: Investment Sale (Stabilized Income)

• Close of Escrow: Q4 2025

Underwriting & Financial Strategy

Prior to marketing, the Seaway team completed a full financial underwriting to support pricing guidance, prepare marketing materials, and assist buyer diligence. Highlights included:

• Rent Roll Analysis: Verified all active lease terms, expirations, and renewal options

• WALT (Weighted Average Lease Term): Modeled to assess income stability

• Security Deposit Reconciliation: Audited deposit records for risk exposure

• Gross-to-NOI Conversion: Normalized operating data by filtering CapEx vs. OpEx and reconciling net revenue

• Pro Forma Cap Rate Modeling: Layered in market rent adjustments for below-market tenants

• Investment Profile: Balanced between long-term professional users and near-term mark-to-market upside

The asset was ultimately brought to market with a high-quality offering memorandum, professional photography, and digital investor outreach targeting 1031 exchange buyers, private equity sponsors, and medical office investors.

Transaction Execution

The property went under contract with a 1031 exchange buyer that closed in just five business days. The Seaway team coordinated:

• 1031 Exchange Compliance: Multiple family trusts and accommodators involved

• Estoppel Collection: Executed estoppel agreements across 26 tenants

• AIR Contract Timelines: All contingencies and deliverables met on schedule

• Document Transfers: Lease abstracts, deposit logs, vendor contracts, and property ops files delivered pre-closing

Despite the tight timeline, the transaction closed without delay due to Seaway’s hands-on transaction management and clear communication between legal, title, escrow, and both client groups.

FAQs

Who did you represent?
Seaway Properties Real Estate Inc. represented both the buyer and the seller.

Why is this deal notable?
This was one of the few stabilized, mid-sized multi-tenant office assets to trade in the Temecula market in 2025. Strong tenancy, medical/professional use, and an efficient two-building layout made it an ideal 1031 exchange replacement.

Was there value-add potential?
Yes. While stabilized, the buyer can capture value through re-leasing expiring MTM tenants at higher market rents and modest operating efficiencies.

What does this say about the market?
Even amid office sector headwinds nationally, suburban office properties in low-vacancy markets like Temecula continue to attract well-capitalized buyers seeking long-term income.

Why It Matters

This transaction underscores Seaway Properties’ ability to handle complex multi-tenant assets with institutional-level underwriting, 1031 exchange coordination, and fast-paced escrow execution.

With a team-based approach and hyperlocal market command, Craig Way, Emily Beck, and Kyle Fried continue to deliver investor-grade results across the Inland Empire office, industrial, and retail markets.