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HESPERIA, CA-Developer Malcolm Riley & Associates of LosAngeles is planning a new 270,000-sf retail power center calledHesperia Plaza on a 28-acre site that the developer recentlyacquired near the I-15 Freeway. Riley, which is headed by presidentMalcolm Riley, will develop the site via a joint venture calledRiley/Asheghian Associates.The development venture bought the landthis week in a transaction that was brokered by Brian McDonald andStefan Misiraca of the Ontario office of CB Richard Ellis. The siteis at the northeast corner of the I-15 Freeway and MainStreet.Riley/Asheghian expects to begin construction on the retailcenter in October, with completion planned for April 2008. McDonaldand Erik Westedt, also with the Ontario office of CBRE, will be theleasing agents for the development.In addition to the 28-acre site,Riley/Asheghian Associates has proposed a 36-acre expansion of thecenter immediately to the north. The developers plan to beginmarketing the complete 67-acre mixed-use center at the ICSCConference in May.The primary trade area population around thedevelopment site is expected to more than double over the next fewyears from 68,151 to 129,000, McDonald points out. Builders haveproposed approximately 22,000 new homes for construction within thetrade area.Hesperia residents now have to travel approximately fourmiles to the area's primary retail center, the Victor Valley Mallin Victorville, McDonald notes. The trip to Victorville can be adrive of 20 to 25 minutes during peak traffic hours.