APPLE VALLEY, CA-Developers from Newport Beach plan 85,000 sf of office and retail space in the first phase of a three-phase retail and office development called Jess Ranch Marketplace, according to Lee & Associates. Ron Barbieri of Lee & Associates in Victorville reports that developers recently closed escrow on a site of 11 acres where they plan to begin construction of Jess Ranch Marketplace.
Barbieri pegs the cost of the land and buildings as more than $24 million. This is the first of three phases of development at Jess Ranch Marketplace.
Barbieri, who was part of a Lee & Associates team that represented both the buyer and the seller of the land, Jess Ranch Marketplace LLC, says that the development site is at the southwest corner of Bear Valley and Apple Valley roads. The developers are Fountainhead Development and CB&C Corp.
The 85,000 sf of space will include restaurants in addition to the in-line office and retail space. The new commercial space will be built in front of and to the side of the existing Target Stores location.
In-line tenants include 99¢ Only Stores, the Automobile Club of Southern California and PFF Bank & Trust. Restaurant tenants include Panda Express and Oggi's Pizza & Brewery.
Barbieri and Lee & Associates partner Nick DiCosola handled the sale. Barbieri, DiCosola and Rob Kurth, are the leasing agents for the project.
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