Parkview Financial Backs Inland Empire Mixed-Use Project
- Jan 17, 2020
Parkview Financial has provided $19.8 million in financing for the development of the first phase of French Valley Commons, a 14.2-acre mixed-use project in Winchester, Calif. After receiving the loan, W Development Partners broke ground on the project, which is slated for completion by the middle of 2021.
The first phase of French Valley Commons will encompass nine buildings totaling 87,231 square feet. Six of the buildings, a total of 36,524 square feet, will be dedicated to retail uses and the remaining three, comprising 50,532 square feet, will serve as flex/light industrial warehouses.
Three of the planned retail buildings are pre-leased to tenants, including O’Reilly Auto Parts, Dollar Tree and Jiffy Lube. The second phase of the 14.2-acre project will feature an additional 52,000 square feet of retail and industrial space.
French Valley Commons is situated at the intersection of Winchester and Benton Road in the region’s commercial center. The project is near major thoroughfares, such as Freeway 79, which provides access to Temecula and other surrounding cities in the Inland Empire.