Shopoff Realty Investments has sold Mead Valley Quarry, comprising 577 acres of vacant land located in unincorporated Riverside County, Calif., for $23 million to San Diego–based developer Lansing Cos.
The property was historically used for surface mining of granite rock, but it had not been actively mined for several decades. After purchasing the land, Shopoff completed surveying and testing to determine potential uses for the property. With the land rich in valuable, high-grade aggregate materials, Shopoff began crafting a strategy to secure vested mining rights for the property, so it could be later developed into a modern operational aggregate rock quarry.
“Mead Valley Quarry was a unique opportunity for our team to focus on what was in the ground, rather than what we could build on top of it,” explained William Shopoff, president and CEO of Shopoff Realty Investments. “Over the last few years, we had worked closely with our team to secure vested mining rig
