Commercial Scene : Brookstone Buys Site for $17-Million Project
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Lake Elsinore-based Brookstone Development Inc. has paid nearly $4.2 million for a 9 1/2-acre parcel of land in Rancho California and plans to develop a $17-million, 147,000-square-foot commercial showroom and retail project on the site.
Brookstone bought the land, at the northwest corner of Interstate 15 and Winchester Road, from Rancho California-based Bedford Development Co.
The project planned for the site is known as Winchester Freeway Park. Brookstone intends to break ground on the complex, which would feature a large number of furniture outlets, later this year.
John Burnham & Co. arranged the sale of the parcel and will also handle leasing.
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