Falcon Real Estate Enters into Joint Venture with Developer for $25.3 Million Office/Retail Project in Temecula, CA (2007-04-03)
Falcon Real Estate Investment Company has entered into a joint venture agreement with Transcan Development for the development of the Winchester Commercial Center in Temecula, CA. The 74,166-square-foot mixed-use center will consist of six free-standing office buildings totaling 45,750 square feet and two multi-tenant retail buildings totaling 28,416 square feet. All six office buildings in the center have been pre-sold and the retail portion of the project is about 30% pre-leased. Construction of the center will commence during the second quarter 2007 with a projected completion date of December 2008.
