Empire Develops 56,000-SF Center

MORENO VALLEY, CA-Empire Commercial Real Estate of Ontario has opened its 56,000-sf Lakeside Terrace shopping center, the company's fourth retail center in the Inland Empire and the latest sign of ramped-up retail development in the region. The property is Empire Commercial's second retail center in Moreno Valley and is directly across the street from the company's Lakeside Plaza, a 100,000-sf center that opened in March 2004.The Lakeside Terrace center is anchored by a 15,120-sf Longs Drug Store, with a tenant roster including Washington Mutual and McDonald's. It is across the street from the 6,000-student Riverside Community College.Lakeside Terrace joins a growing list of new retail venues in the Inland Empire, ranging from small service centers to community shopping centers to huge open-air and town center developments that are being developed to serve the burgeoning population in the fast-growing region. Recently in Murrieta, for example, Capital Income Properties reached 100% occupancy on its Madison Marketplace, according to Phil Bensinger, president of Capital Income.Madison Marketplace, on the southwest corner of Madison Avenue and Murrieta Hot Springs Road, has been built in phases since 2001. It includes a 7-Eleven, a Denny's restaurant, an 11,800-sf multi-tenant building and a 5,350-sf building that was completed in the fourth quarter of last year.Other new retail venues that have opened in the Inland Empire in recent months include Empire Commercial's 86,000-sf Sierra Crossroads at 11225 Sierra Ave. in Fontana, which is anchored by a Stater Bros. supermarket and features a tenant roster including Fantastic Sam's, Red Brick Pizza and Jack in the Box. The Sierra Crossroads property is adjacent to a planned 200-acre business park and an 800-home housing development.