Vail Lake Resort in Temecula CA to be Sold in Public Auction
The 7,955 acre private resort property could fetch $50-80 million
TEMECULA, Calif.—July 31, 2014—Vail Lake Resort, consisting of 7,955-acres of recreational and resort facilities and bare land, will be sold in a bankruptcy public auction on August 7, at 2:30 p.m. in San Diego. Matt Weaver, Al Apuzzo and Patrick Miller of Lee & Associates San Diego North County are the listing agents for the auction, which will take place at 325 West F Street, Department 2, San Diego Calif. 92101.
Developed in 1948 when owners of Vail Ranch constructed the 132 foot high Vail Lake Dam, Vail Lake Resort is now a mecca for outdoor sport and entertainment, including the largest private lake in California, 520 full hook-up RV Sites, miniature golf, swimming, boating, fishing, water slides and many other outdoor activities.
“This one of a kind property is well located in Southwest Riverside County with the majority of Vail Lake within the Temecula School District, the highest rated school district in the Inland Empire,” said Matt Weaver, principal of Lee & Associates San Diego North. “The property possesses magnificent views of the Temecula Valley and the Lake.”
Weaver added that the property is zoned for up to 1600 residential units and the new owner will have the opportunity to increase revenues through more memberships and increased recreational activities while entitling the property for future residential development. Weaver added: “Desirable properties with scale such as this one are difficult to find in such a good location.”
Vail Lake, which is privately owned with recreational access to the lake privately controlled, is a large reservoir of 1,000 acres in western Riverside County. Located in Temecula on the Temecula Creek and Santa Margarita River watershed, the resort is approximately 10 miles from Old Town Temecula and seven miles east of I-15 on Highway 795.
Formerly Butterfield Country Recreational Park, Vail Lake Resort was established in 1968 to provide public access to the Lake and its marina, but closed by its owners in 1989. In 1995, a members-only resort facility was opened at the location of the former park; and in 2000, the water activities area was re-opened to the public on an annual fee basis. Today, boating rights on the lake are reserved for annual members only but RV access is open to the public with paid nightly reservation or a day use pass.
For more information on the auction, please contact Matt Weaver of Lee & Associates at 760-448-2458.
About Lee & Associates
Celebrating more than 35 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the country with 49 locations across the nation including California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas, and Wisconsin. With more than 750 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. Additional information can be found on our website and you can follow us on Facebook, LinkedIn and Twitter.