MURRIETA, CA—Lee & Associates has completed the sale of approximately 161.33 acres located in French Valley near Murrieta. The property was recently approved for 269 residential lots. The property is located in the Temecula Valley School District, the highest rated school district in Riverside County. The site is accessed from Calistoga Drive, Promontory Parkway, and Leon Road.
The buyer, Cornerstone Communities LLC, was in escrow for approximately three years while processing a specific plan, rezone, general plan amendment and tentative tract map.
Matt Weaver, Al Apuzzo, Gordon Mize and Patrick Miller of Lee & Associates – North San Diego County and Murrieta, represented Cornerstone Communities and the seller Agate Real Estate Inc.
Weaver noted, “With several major projects planned and under construction, French Valley is experiencing tremendous growth, which will only continue over the next several years. The property’s ideal location in Murrieta and the Temecula School District made it highly desirable. In addition it is easily accessible and is near retail amenities.”
Lee & Associates is the largest broker-owned firm in the country with locations across the nation including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, and Wisconsin.