(To read more on the debt and equity markets, click here.)

TEMECULA, CA-Falcon Real Estate Investment Co. of San Diego has unveiled plans for a 74,166-sf development called Winchester Commercial Center that will include 45,750 sf of office space and 28,416 sf of retail shops. The $25.3 million project, at the northwest corner of Winchester Road and Willow Springs Avenue, will be a joint venture between Falcon and Transcan Development LLC, based in the Northern California community of Alamo.

All six office buildings in the center have been sold and the retail portion of the project is about 30% preleased, with construction scheduled for the second quarter of this year. Sales and leasing for the property are being handled by the Ontario office of CB Richard Ellis.

Falcon provided $7.7 million of equity to fund the development, with United Commercial Bank providing a $17.6 million construction loan, according to Scott Sweeney, executive vice president of Falcon. The architect for the project is Designers Collective Incorporated of Concord.

Falcon, founded in 1991, has a portfolio of approximately 10 million sf of office, retail, distribution and residential real estate. Transcan has several retail and office projects totaling more than 3.7 million sf under way.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.