Search
 

A Local Investor Buys Land for Shopping Center in Temecula

SAN DIEGO-San Diego-based Cahan Properties buys 13.6 acres in south Temecula, for a 121,200-sf neighborhood shopping center.

By Randyl J. Drummer | Updated on January 26, 2001

SAN DIEGO—San Diego-based Cahan Properties has bought 13.6 acres at the southwest corner of State Route 79 and Butterfield Stage Road in south Temecula and plans to build a 121,200-sf neighborhood shopping center there.

Cahan bought the land from MDC/Vail for $4.3 million and will build a center dubbed Marketplace at Vail Ranch, anchored by a Ralph’s grocery store and a drive-through Savon drug store. The center will alsofeature a gas station, restaurant and neighborhood-oriented shops andservices. The center is slated for completion this spring.

“Leasing is off to a brisk start,” says Bob Cahan, principal of CahanProperties. “Even before ground-breaking, the center is already 75%pre-leased. The high level of interest from tenants is a potent confirmation of Temecula’s positive economic outlook.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.