Southlake, Texas – United Development Company of Southlake Texas recently purchased 20 acres at the northeast corner of Winchester Rd & Thompson Rd, French Valley CA in southern Riverside County.  The shopping center, known as French Valley Marketplace, is a co-development project with Halferty Development Company of Pasadena, CA.  French Valley Marketplace will include an AutoZone, LA Fitness, Grocery Outlet Bargain Market, McDonald’s and 7-Eleven.  Construction will begin this fall with expectations to deliver the first phase in mid-2020.

Property features include:

  • Major frontage along Winchester and Thompson Roads
  • +/- 132,500 square feet of leasable square footage in 16 buildings
  • 44,300 square feet of shop space available
  • 4 drive thru pads for ground lease or build to suit
  • 5,000 square feet between grocery store and pharmacy

Nick Wirick and Miranda Fifield of Lee & Associates Commercial Real Estate Services of Riverside, CA are leasing brokers for French Valley Marketplace.

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.

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 aggressively pursuing retail and self-storage real estate investments in the United States.

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, 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.