FUND V, LLC
Ivy Street is another testament to Continental East Development’s expert management and ability to turn around failing development projects. The project, a one-story office building, initially broke ground in 2006, but the original developer ran into trouble in late 2009, which forced them to delay progress. Ultimately, the property fell into foreclosure in 2010.
Seeing an opportunity to execute its winning strategy again, CED acquired the under-performing asset in June 2010 from First California Bank. Under CED expert management, Ivy Street has become a highly desired location for CPAs, real estate companies, and other professional services.
Located in Old Town Murrieta’s historic district, the beautiful multi-tenant Ivy Street building comprises eight finished offices, providing easy access to the I-15 freeway. Continental East Development is proud to have once again successfully executed its vision of acquiring and turning around another once under-performing project to become a thriving center of commerce in the community.