July 26, 2004
San Diego, CA — Irvine Investments acquired 40 acres of raw land for future development on the north side of Hunter Road, east of Winchester Road in the City of Murrieta, County of Riverside, CA. The 40-acre parcel will be included into an overall development consisting of approximately 105 total acres. Currently, Irvine Investments is processing a Tentative Tract Map for 125 +/- single-family lots and nearly 60 acres of open space. The open space will be granted to the City of Murrieta and will be used to preserve much needed habitat corridors in that region. The Tentative Map for the property is expected to be approved during the month of September 2004. GW Realty Company will be marketing the property after the Tentative Map is approved.
Ralph DiBianco represented Irvine Investments and Dr. Michael Flynn, Seller in this transaction. For additional information about this transaction or other residential development opportunities please contact us at (858) 622-7171.
GW Realty Co. specializes in real estate brokerage and valuation consulting with an emphasis in residential land throughout Southern California, and has over $1.5 billion in transactions since 1993. A non-traditional real estate firm, GW Realty Co. concentrates their efforts on key relationships with a select group of clients and properties. Due to the decreasing supply of available development properties, GW Realty Co. is continually searching for and finding development opportunities 'flying below the radar'.