N3 Partners On El Paseo Project
Southlake-based N3 Real Estate, a retail real estate investment development firm, said it has partnered with Rich Development Enterprises and Gryphon Capital for a $60 million Target-anchored shopping center in California.
The 398,000-square-foot Marketplace at El Paseo in Fresno will include several junior anchor stores and is expected to open in March 2014.
Rich Development Enterprises specializes in power centers and grocery-anchored retail developments. Gryphon Capital is a privately held real estate company that specializes in the acquisition and development of shopping centers and mixed-use projects throughout the Western U.S.
N3 said it has developed more than 200 single and multitenant retail projects for national and local retailers, and owns and manages more than $200 million worth of retail projects.