New Owner for Washington Plaza in Historic Downtown Murrieta

News release:

Murrieta, CA—In association with Tobias Commercial Real Estate, Realty Trust Group of Wildomar, Calif., has acquired the Washington Plaza building, an iconic property located at the entrance to Murrieta’s Historic Downtown district at the corner of Kalmia Street and Washington Avenue. 

While the building is new, the location has a long history, dating back to the homestead that belonged to the city’s founders in the 1800s.

Murrieta Mayor Rick Gibbs said, “We are excited to see that a local developer of the caliber of Realty Trust Group has invested in this gateway property in Historic Downtown Murrieta. We believe that this demonstrates strong investor interest in the development of new opportunities in this key area of Murrieta.”

While based in the Murrieta area, Realty Trust has its roots in Nebraska. The company has extensive experience working in both large and small communities in the Midwest and has developed a full range of commercial projects in communities as diverse as Omaha and Lincoln in Nebraska, and Lake Forest in California. 

According to Andy Weigel, who manages Realty Trust’s portfolio, the company recognized that “Historic Downtown Murrieta is a charming throwback to an earlier era but with great potential for the future.” 

Weigel praised the work of the original developer who “showed a commitment to the quality and design inside and out” and for these reasons, the firm moved ahead quickly to purchase the property. 

The developer will be working with Tobias Commercial Real Estate and with the support of the City to complete and tenant the first floor of the building with retail and restaurant uses. 

In addition to Washington Plaza, Weigel’s family is already invested in the future of Historic Downtown Murrieta. His wife, Sandy, owns Forever Florals, a botanicals boutique located on Ivy Street that specializes in custom high-end floral arrangements.