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Parkview Financial Provides $19.8 Million Loan for Phase One of French Valley Commons, a Mixed-Use Project within the Greater Temecula, CA Submarket

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Temecula, CA, January 13, 2020 – Parkview Financial announced today it has provided a $19.8 million loan to Temecula, CA-based W Development Partners for the development of the first phase French Valley Commons. Phase one will include a nine-building mixed-use project situated at the northwest corner of Leon Road and Benton Road in the French Valley area of Winchester, CA, a city within the greater Temecula submarket (Southwest Riverside County).

The nine buildings will total 87,231 square feet (sf) and will include six retail buildings totaling 36,524 sf and three flex/light industrial buildings comprising 50,532 sf. Three of the planned retail buildings have already been pre-leased to users including O’Reilly Auto Parts, Dollar Tree and Jiffy Lube. With the closing of this loan, construction has now commenced on the three leased retail parcels and the largest light industrial building which will total 22,925 square feet. The four buildings are anticipated to be completed in early- to mid-2021. The timing for construction on the remaining five buildings has not yet been determined.

“Parkview Financial is happy to have the opportunity to work with this experienced, local developer who will be creating a quality project in a growing Inland Empire submarket,” said Paul Rahimian, CEO of Parkview Financial. “We see French Valley Commons as a development that will help to meet an untapped demand for retail and industrial property here.”

Although construction has just begun, the industrial buildings have had significant interest from regional owner-users. Gordon Mize of Lee & Associates is marketing these buildings for lease or sale. The remaining retail buildings have had interest from local, daily needs retailers. All the buildings are situated on individual land parcels which will enable the ownership the option of selling them individually once tenants are in place.

The second phase of French Valley Commons is entitled for another 52,000 sf of retail and industrial buildings and the timing for development is based on interest and lease-up for the first phase. The entire French Valley Commons project is situated on a 14.19-acre land parcel.

The French Valley Commons project is located at the intersection of Winchester and Benton Road. This location along with surrounding land parcels is the commercial center for the area. It is anchored by the French Valley Village Center with Stater Bros grocery store built-in 2003. The area is served by major north/south CA Highway 79 / Winchester Road, a four-lane divided highway that travels the entire north/south length of Riverside County and continues north into San Bernardino and south to San Diego.

Over recent years, the City of Winchester, which is approximately eight miles from Temecula and was once very rural and agricultural in nature, has been experiencing significant housing growth, primarily large subdivision developments. The increase in housing has created a growing demand for retail and commercial projects to support the area.

 

About Parkview Financial

Parkview Financial was founded in 2009 by CEO Paul Rahimian. Based in Los Angeles, the direct private lender provides short-term bridge and construction loans secured by first trust deeds to developers throughout the United States. Parkview manages a debt fund that originates approximately $500 million in construction financing each year with loans ranging in size from $5 million up to $100 million. Parkview’s excellent reputation as a private lender has been built on its ability to provide fast, creative financing solutions for borrowers who need more leverage and certainty of execution. Parkview originates loans for property types including Multifamily, Industrial, Office, Retail, Mixed-use, Spec Homes and Entitled land.

The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering San Bernardino & Riverside Counties.

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By Press Release

Asurion Tech Repair & Solutions™ Opens in Redlands 

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Asurion® Repair Experts Provide Fast Fixes on Phones, Tablets, Laptops, and More

A new electronics repair shop, Asurion Tech Repair & Solutions™, has opened in Redlands at 9980 Alabama St. The store offers professional fixes for most consumer electronics, from smartphones, tablets, and computers to game consoles, smart speakers, drones, and more.

While common repairs include cracked screens, battery issues, and water damage, the company’s repair experts have fixed millions of devices and can help with most any tech mishap, and many basic repairs can be completed in 45 minutes or less.

“I’m looking forward to the opportunity to introduce Asurion Tech Repair & Solutions to Redlands as we continue to serve this region,” said Damon Madison, Asurion Tech Repair & Solutions District Manager. “Our team prioritizes customer satisfaction above all else. By offering free diagnostics on all device issues, matching competitors’ prices, and guaranteeing fast-turnarounds on device repairs, we’re dedicated to making our customers’ experience affordable and convenient.”

The store’s expert repair technicians fix all kinds of technology, regardless of make or model, and the store is an authorized repair provider for Samsung Galaxy and Google Pixel smartphones. Customers can book a repair appointment online or stop by the store for walk-in service. The store offers free, no-obligation diagnostics on all gadgets, as well as a 1-year limited warranty on all repairs. It even offers a price match guarantee on any local competitor’s regularly published price for the same repair.

The new Asurion Tech Repair & Solutions store brings the company’s retail footprint to more than 750 locations across the U.S. Formerly known as uBreakiFix®, all U.S. locations will rebrand as Asurion Tech Repair & Solutions throughout 2022.

“We are excited to serve people in Redlands with fast and affordable tech repair,” said Dave Barbuto, CEO of Asurion Tech Repair & Solutions. “We all rely on our phones and laptops more than ever before, and our mission is bigger than repairing shattered screens and broken charge ports. We fix tech because people depend on it to stay connected to things that are important to them. I look forward to serving this community through our new location.”

The new store is located at:

Asurion Tech Repair & Solutions

9980 Alabama St Suite C, Redlands, CA 92374

(909) 801-3008

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By Press Release

New Partnership Announced; Stater Bros. Markets joins Entertainment Giant

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Toyota Arena has announced a new partnership with Stater Bros. Markets effective July 1, 2022.

Guests of the arena will soon be able to experience the new branding of the North Patio, which will include live concerts featuring local bands and up-and-coming professional talent. “We are thrilled to welcome Stater Bros. Markets as a partner to Toyota Arena,” said Michael K. Krouse, President & CEO. “It’s a natural fit – this is our community’s grocery store of choice and the amazing Stater Bros. Charities provides non-profit organizations in our local region with support. We are on board to help as well.”

The marketing amenities this partnership will provide Stater Bros. will include a presence on several assets including the arena’s Interstate 10 marquee, overhead LED scoreboard, television monitors throughout the facility, website, and more. The relationship created through this agreement will also provide benefits for Toyota Arena guests, including new Stater Bros.-inspired food and beverage options.

The benefits to the community will go beyond lifestyle and entertainment, however. Stater Bros. and Toyota Arena recognize the important role they play in the overall development of the City of Ontario. The city’s vigorous commercial and residential growth, and its status as a destination location will result in economic growth, jobs, and a thriving community. The partnership will also open up new opportunities to support the giving efforts of the market’s non-profit charitable arm, Stater Bros. Charities.

“This really is an exciting day for the entire Stater Bros. team. As a company, we work hard to establish great business relationships, and with Toyota Arena, we’ve found an excellent partner,” said Stater Bros. CEO Pete Van Helden. “I look forward to the new opportunities our partnership will bring and its benefits for the City of Ontario and the Inland Empire as a whole.”

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Business

IECE Presents its Inaugural State of Entrepreneur Report on Dec. 9

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The first-ever State of Entrepreneurship Address for the Inland Empire is being held by the Cal State San Bernardino Inland Empire Center for Entrepreneurship on Thursday, Dec. 9, from 5-8 p.m. at 4th Sector Innovations in Ontario. 

IECE’s goal in producing the State of Entrepreneurship research study is to bring the voice of local entrepreneurs to those who need to hear it most – local and state policymakers, community organizations, lenders, and other resource providers. 

The Voice of the Entrepreneur survey, on which the address is based, sends powerful feedback on the challenges that entrepreneurs and business owners of the Inland Southern California region face. 

Survey results were drawn out earlier this year by reaching out to IECE’s extensive network, consisting of more than 10,000 entrepreneurs and business owners representing a diverse group of industries. The IECE will continue to distribute the Voice of the Entrepreneur survey in the spring of each calendar year to find out what Inland Empire entrepreneurs and business owners are going through. 

The report is a potent tool for policymakers, economic impact drivers, and business owners and entrepreneurs to analyze growth potential within the region. Using measurable data, the goal is to identify the challenges and opportunities facing local business owners and obstacles that may be impeding business growth. 

The result is a concise report that gives insight into how we can effectively learn and evolve together with a regional focus. 

The evening will start and end with networking and food; in between, the SOER report will be presented, which includes examining the indicators of entrepreneurial activity and how the IE measures up as a region; learning of the Voice of the Entrepreneur direct survey results and the common themes, as well as an IE Ecosystem assessment; and regional perspectives from influencers that include: 

  • Rod Vandenbos, founder and CEO, buzzbox beverages, Indio; 
  • Mike Napoli, Tech Coast Angels, Palm Springs; 
  • Edward Ornelas, Jr. President, Inland Empire Regional Chamber of Commerce
  • Ana Karina Suchánek, president, Cask Restaurant Group, Inc., Rancho Cucamonga; and 
  • Pepi Jackson, president and CEO, Riverside Black Chamber of Commerce 

Click the following link – Secure Your Spot for the 2021 State of Entrepreneurship Address – to attend, network and learn more about entrepreneurship in the region. Whether you are a seasoned or soon-to-be entrepreneur, there is a perspective for everyone who wants to know more about how to strengthen the Inland Empire economy.

The presentation will unveil breakthrough metrics and perspectives on the State of Entrepreneurship throughout the Inland Empire, including: 

  • Why a report like this is essential for the collective growth of our region; 
  • What the report consists of: indicators for entrepreneurship and what real entrepreneurs in our communities are telling us through our Voice of the Entrepreneur survey results; and
  • Regional perspectives from influencers and officials that are active in our ecosystem. 

The event will also include food and cocktails while networking within an inspirational setting at 4th Sector Innovations Ontario. 

To learn more, visit the IECE State of Entrepreneurship Report website

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