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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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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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By Press Release

Southwest Airlines will fly from Ontario International Airport, CA, to Austin in 2022

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The announcement from Southwest Airlines that it will fly daily nonstop from Ontario International Airport (ONT) to Austin (AUS) starting in March 2022 is welcome news for the Southern California gateway and the Inland Empire.

The announcement from Southwest Airlines that the low-cost carrier will fly daily nonstop from Ontario International Airport (ONT) to Austin (AUS) starting in March 2022 is welcome news for the Southern California gateway and the Inland Empire.

Southwest will offer flights between ONT and Austin-Bergstrom International Airport daily on the following schedule effective March 10, 2022.

Flt #OriginDestinationDepartureArrivalFrequencyAircraft
1204ONTAUS10:55 a.m.3:35 p.m.Mon – Fri &
Sun
737-700
474ONTAUS9:50 a.m.2:30 p.m.Sat737-700
1739AUSONT4:35 p.m.5:55 p.m.Mon – Fri &
Sun
737-700
257AUSONT2:55 p.m.4:10 p.m.Sat737-700

The new flights are available for booking immediately at southwest.com.

“The addition of the Texas state capital to our route map is welcomed news and further indication of confidence by ONT’s largest air carrier,” said Alan D. Wapner, President of the OIAA Board of Commissioners. “It is also another sign that ONT’s recovery from the COVID-19 pandemic is well underway and gaining momentum.”

The announcement of the new Southwest flights comes as ONT continues to experience an impressive pandemic recovery. In August, ONT reported passenger traffic was within 7% of pre-COVID levels.

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By Press Release

Family Fun Month of Rides, Slides & Glides

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Alpine Slide Big Bear Observes Family Fun Month with a Variety of Delights 

August is Family Fun Month, and Alpine Slide Big Bear (Alpine Slide) is the premier spot in Big Bear that gives families an opportunity to soak up the joys of summertime fun together. Alpine Slide provides guests of all ages, from toddlers to grandparents, a variety of family-fun offerings, which includes a double waterslide, a mountain coaster thrill ride, a zipline-style flight, the Alpine Slide bobsled experience, go-karts and miniature golf. 

“The great thing about having a variety of attractions is it gives families a chance to pick and choose what best appeals to them,” said Alpine Slide Big Bear General Manager Julie Eubanks.

Family Fun Month occurs every August, and undoubtedly August happens to be one of the hottest months that many Southern California communities have to face each year. However, Big Bear is a great place to escape the daunting heat. Not only is Big Bear 20 to 30 degrees cooler than most of Southern California’s hot zones, but Alpine Slide’s double waterslide gives families who seek refuge from the heat an extra bonus to cool off. Kids can splash all day on two flumes of cascading water, turning and banking on the way to a 3 ½ – ft. deep, heated splash pool. Parents can spread a blanket out on the grass, or relax on the shaded, wrap-around deck at the base of the double waterslide. 

“Alpine Slide is also home to three attractions that are the first and only in California, which includes the Mineshaft Coaster, the Soaring Eagle, and the Alpine Slide,” added Eubanks. “Each of these rides offers something unique and suitable for all ages.” 

Mineshaft Coaster, which is the first and only mountain coaster in California, is an amusement-style, thrill ride that stretches over one mile long on a stainless-steel-tube track. It has all the bells and whistles of a roller coaster such as steep descents, hairpin turns, tunnels, bridges and 360-degree corkscrews. Here’s the kicker…the rider actually controls the speed of the coaster cart, which can reach max speeds of 30 mph.

The Soaring Eagle is a one-of-a-kind ride not seen anywhere else in California either. The Soaring Eagle has dual seats so a parent and child can ride side-by-side. It starts by lifting riders backwards on a zipline cable to a 70-foot tall launch tower. Once it reaches the top, it then catapults forward at 26 mph, on a 100-foot long vertical drop, that travels 500 feet back to the base. The Soaring Eagle not only offers folks an opportunity to experience the sensation of flying, but they are treated to a bird’s eye view of Big Bear Lake and surrounding mountain vistas, too. 

Another distinctive attraction on site is the Alpine Slide, which is the only authentic bobsled /luge experience in California. Riders navigate their own individually controlled sleds down a quarter-mile long concrete track with high-banked turns and long straight-aways. Each sled is equipped with Teflon runners, ball bearing wheels, control handle and brakes. Youngsters who meet the height requirements can ride with their parents on this fun-filled feature ride.  

Rounding off the family-fun activities at Alpine Slide is a go-kart track, putt-putt golf and video arcade. When it’s time for a break, head inside for an ice-cream cone. An ice-cream bar located at the snack bar offers 12 different tasty flavors to choose from, such as Banana Split, Cotton Candy or Birthday Cake!     

Alpine Slide, located at 800 Wildrose Lane (just off Big Bear Blvd.), is open daily. The Summer hours of operation are Sunday through Thursday from 10 a.m.- 6 p.m. and Friday and Saturday from 10 a.m. to 9 p.m. For general information, height requirements, pricing and specific hours for each attraction, please visit AlpineSlideBigBear.com or call 909-866-4626. 

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