You're correct that the west valley continues to grow as farm land is replaced by housing and retail.

Or instead of retail maybe think out of the box and maybe retrofit for offices etc...

You can get away from the noise and hassle of downtown while still being close to jobs and retail. 

I also did not include cash flow because without an identified property, the cash flow is unknown (in San Diego SFR purchased at retail have negative initial cash flow but I do not know this to be the case for Temecula).My perspective is that if the market declines you could get a better value, but the risk of getting priced out of the market is too high a risk. 

Location is prime, located near major retail outlets, hospital, and rapidly expanding residential developments.

Your HR department should be able to provide guidance or point you to the rules that apply to your plan.

Yes a retail buyer would be your best bet if you were going to flip it.

What's the retail scene like in the area?  

(retail price for the area at the time, probably far more now thanks to a transit system being built.)I was like "You know, the entire place is spotless and staged and the toilet seats need to be replaced?..."

In California they file a lien w/ the county dept of environmental health so be sure to check with those type of departments to ensure any liens can be cleared w/ the retest.