Local Real Estate Development Company Acquires Ideal Shopping Center in Murrieta/Menifee Area
Continental East Development (CED) is a locally-based real estate development company. CED focuses on commercial and large residential properties. Today CED announced its future development plans for Antelope Square shopping center. On the border of Murrieta and Menifee, Antelope Square is an 84,000 square foot retail shopping center ideally located on the southeast corner of Scott Road and Antelope Road, providing excellent access and exposure to approximately 24,500 cars traveling through the area per day.
“Antelope Square is located just minutes away from surrounding residential communities as well as the new Loma Linda University Medical Center and Mount San Jacinto College. Every individual we spoke to has emphasized the need for diverse restaurants other than fast food establishments, and the lack of coffee shops, more importantly through coffee, in the area,” said Lydia Percia, Vice President and Co-Founder, Continental East Development. “it is apparent that working professionals and families alike are searching for a shopping center that offers more than what is currently available in the local neighborhood. Antelope Square will provide just that!”
Antelope Square first broke ground in 2007, at the height of the building boom; However, the project was stalled in late 2008 when funds were not readily available to complete the shopping center and forced a delay in tenant occupancy. In late 2010, Antelope Square was acquired by CED and with new ownership come a new vision. CED is excited for the much anticipated success of the shopping center.
Rising to the challenge within the community, CED is striving to provide new food services along with other desired amenities that will help boost business in the area instead of forcing locals to shop and dine elsewhere. CED has revised Antelope Square’s previous development plans and changed the large location that was once slated as a bank pad to a much needed drive thru coffee shop and café/bistro with outdoor seating. The result will be an ideal spot for business lunch meetings and weekend dining with the family, or just a casual night out. New expansion plans have been submitted to the City of Murrieta. Subject to the City of Murrieta’s approval, ground breaking is projected to take place late summer 2011.
CED is currently interviewing new tenants for Antelope Square which are envisioned to include:
-A drive-thru Coffee Shop
- Bistro and Café with patio seating, soothing landscaped, and the ability to promote local entertainment
-Specialty food stores
-Designer clothing stores
-An assortment of restaurants of all cuisines
-An urgent care facility
-Dental offices and local general practitioner offices
About Continental East Development
Continental East Development (CED) is a real estate development company with international resources. CED was launched in 2009 to take advantage of the distressed California real estate market and to acquire commercial and large residential properties with significant value-added appreciation opportunities.
Originally established in Orange County, CA, CED’s current real estate investment focus has been concentrated on southwest Riverside County including properties located in Menifee, Moreno Valley, Murrieta and Temecula. CED is a financially secure, self-funded development company seeking new distressed real estate investment opportunities in California. To date, all CED real estate acquisitions have been debt-free. CED’s services include real estate acquisition, planning, design consultation, construction management and property management services. Some of the institutional real estate acquisitions of CED have included purchases from Comercia Bank, Central Pacific Bank, First California Bank, KeyBank, and Bank Midwest. Continental East Development’s headquarters are located in Murrieta, CA.
For more information on Antelope Square, please visit www.antelope square.com or contact Lydia Percia at (951) 805-3930.