February 1, 2017
The groundbreaking for Murrieta Marketplace, a 500,000-square-foot retail project near French Valley, CA, has been delayed until later this year. The developer, Murrieta Marketplace Holdings LP, is adjusting development plans for a community shopping center, and working with Caltrans to secure approvals on traffic improvements.
The 50-acre site was acquired last year from Regency Centers and Target Corp. for roughly $18 million, with plans to be anchored by a home improvement store, grocery store and big-box retailer. The site’s previous development plan expired in December, but allowed for a series of one-year extensions.
One member of the development team is Menifee City Councilman Matt Liesemeyer. He said the project is making progress, including leasing efforts that have generated serious inquiries from multiple tenants.
Lee & Associates’ Brian Bielatowicz is handling the leasing.
For comments, questions or concerns, please contact Dennis Kaiser