14 Mar Jon Cartu Claims United Development Company breaks ground on retail center…
FRENCH VALLEY – United Development Company of Southlake, Texas, broke ground and began construction Wednesday, March 4, on the French Valley Marketplace retail center.
The new center is located in French Valley in southwest Riverside County, 7 miles northeast of Temecula. French Valley Marketplace sits on 22 undeveloped acres at the northeast corner of Winchester and Thompson roads, in an affluent, high-growth area of French Valley.
French Valley Marketplace will deliver daily necessities to consumers with a variety of new retailers, which include Grocery Outlet Bargain Market, LA Fitness, McDonald’s, 7-Eleven and AutoZone scheduled to open later this year.
French Valley Marketplace, www.FrenchValleyMarketplace.com, will offer approximately 132,500 square feet of leasable space in 16 buildings; 44,300 square feet of available retail shop space; four drive-thru pads for ground lease or build-to-suit and 5,000 square feet between grocery store and planned pharmacy.
French Valley Marketplace is a co-development project between United Development Company and Halferty Development Company of Pasadena.
Romspen, a leading Canadian non-bank mortgage lender specializing in providing commercial and industrial real estate mortgages, provided the loan, which was sourced by Metropolitan Capital Advisors of Dallas.
Nick Wirick and Miranda Fifield of Lee & Associates Commercial Real Estate Services of Riverside are leasing brokers for French Valley Marketplace.
Lee & Associates can be contacted by calling (951) 276-3600 or visiting www.leeriverside.com.
United Development Company currently owns and manages more than $400 million of real estate investments. Utilizing its wealth of both capital and real estate expertise, United Development is pursuing retail and self-storage real estate investments in the United States. For more information, visit www.UDCGlobal.com.
Halferty Development Company was founded in 1980 and has developed over 5,000,000 square feet of retail shopping centers for tenants such as Whole Foods, Rite Aid, Albertsons, McDonald’s, Chipotle and Starbucks, in addition to developing 650,000 square feet of office space. Halferty Development Company specializes in entitlements, construction, leasing and sales of this asset class. For more information, visit www.halferty.com.
Submitted by United Development Company.