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SAN JACINTO, CA-DBN Development, a newly formed company based in Laguna Hills, plans a $20 million, 125,000-sf community shopping center that will be the first phase of San Jacinto Esplanade. The project is the first for DBN, which was formed by Steven Delson, a 30-year industry veteran who spent many years as EVP at the Mission Viejo Company.

The project will be anchored by a 45,000-sf supermarket and will include a Walgreens with drive-through pharmacy service, a dental/professional building, retail shops, a gas station, restaurants and quick-service restaurants. Delson notes that the new center, which is planned to ultimately span both sides of Sanderson Avenue on the north side of Esplanade Avenue, is in the heart of ongoing residential development on San Jacinto’s west side.

The center’s location is on the San Jacinto and Hemet boundary andwill serve residents of both cities. It is about a half mile from two new schools now under construction, Taquitz High School and Rancho Viejo Middle School, which will total 4,000 students.

The design includes a plaza-space with landscaping, tables and benches, “of the kind of design feature you would find in a south-Orange County community like Irvine or Aliso Viejo,” Delson says. DBN expects to break ground on the project in the fall and to have the center open for business in the summer of 2006.

The leasing agents for the property are Walter Pagel and Vanessa Brown of the Newport Beach office of Grubb & Ellis. Initial financing for the project was provided by the Marshall Group and Bank First.

Delson recently formed DBN Development to consolidate his real estate development activities and to “be able to better utilize the capital markets and undertake multiple projects,” he says The company will acquire, entitle and develop land throughout Southern California.

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