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HESPERIA, CA-Developer Malcolm Riley & Associates of Los Angeles is planning a new 270,000-sf retail power center called Hesperia Plaza on a 28-acre site that the developer recently acquired near the I-15 Freeway. Riley, which is headed by president Malcolm Riley, will develop the site via a joint venture called Riley/Asheghian Associates.The development venture bought the land this week in a transaction that was brokered by Brian McDonald and Stefan Misiraca of the Ontario office of CB Richard Ellis. The site is at the northeast corner of the I-15 Freeway and Main Street.Riley/Asheghian expects to begin construction on the retail center in October, with completion planned for April 2008. McDonald and Erik Westedt, also with the Ontario office of CBRE, will be the leasing agents for the development.In addition to the 28-acre site, Riley/Asheghian Associates has proposed a 36-acre expansion of the center immediately to the north. The developers plan to begin marketing the complete 67-acre mixed-use center at the ICSC Conference in May.The primary trade area population around the development site is expected to more than double over the next few years from 68,151 to 129,000, McDonald points out. Builders have proposed approximately 22,000 new homes for construction within the trade area.Hesperia residents now have to travel approximately four miles to the area’s primary retail center, the Victor Valley Mall in Victorville, McDonald notes. The trip to Victorville can be a drive of 20 to 25 minutes during peak traffic hours.

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