The Rancon Group acquisitions team was busy in the fourth quarter of 2011 bringing two more great properties into the Rancon Group portfolio.
Rancon Sevilla is located in what is known as an “in-fill” area of the once rapidly developing French Valley. This project features an approved tract map for 180 townhome lots on approximately 20 acres, and also includes more than four (4) acres of commercial-use lots. In addition, the project will feature more than 14 acres of “environmental” open space.
The property was acquired for less than 18 percent of its estimated retail value in 2007, according to Rancon Founder Dan Stephenson.
In its continued interest in the Winchester Ranch master-themed residential community located just east of the City of Menifee, the Rancon Group acquisitions team acquired approximately 94 acres of residential property with significant improvements.
The property, which is slated to be part of a larger project known as Conestoga at Winchester Ranch, features an approved Tentative Tract Map for 136 single family homes, plus about 47 acres of open space. Its northern border fronts on Domenigoni Parkway, which currently carries about 25,000 cars per day. The property is just west of Rice Road and will be in a central part of the larger Winchester Ranch community.
IN OTHER NEWS
James Flores, graphic designer and Web site developer, joined the Rancon Group full-time in January. James was on the Web site development team that launched the current Rancon Group site, and he is currently working on a new site for Rancon Real Estate. James is an award-winning designer and is the point person for the Rancon Group’s new digital outreach program.
The Rancon Headquarters building at 41391 Kalmia Street in Murrieta is getting a facelift. Repairs including new stucco, exterior paint, and new window seals began in November of 2011. The new look and new landscaping are scheduled to be completed in February.
Jim Lytle and Jeff Comerchero attended the IMN (Information Management Network) Forum in February and noted a lot of interest in Southern California real estate. Next up, the Rancon Group will invite merchant builders to our annual forum in April. Stay tuned for more.