September 13, 2017
Shopoff Realty Investments acquired the Mead Valley Quarry, a 577-acre vacant land site in unincorporated Riverside County, located northwest of the City of Perris, CA. The property is at the intersection of Rider Street and Seaton Avenue, near Interstate 215, as well as Lake Perris.
Shopoff Realty Investments’ William Shopoff says, “Due to the site’s designation by the State of California as MRZ-2, or an area containing mineral resources of prime importance, we are planning to entitle a portion of the property for quarry operations. Additionally, we are considering selling a portion of the site for a non-quarry use, and will investigate donating a portion for habitat conservation easements as well.”
Shopoff sees the value in what is in the ground, rather than development. The Irvine, CA-based company plans to tap into its entitlement expertise and experience in the jurisdiction to maximize the value of the property.
For comments, questions or concerns, please contact Dennis Kaiser