WOOD INVESTMENTS COMPANIES ACQUIRES SAN GORGONIO VILLAGE IN BEAUMONT, CA
January 25th, 2019 – Wood Investments Companies, Inc., a leading Orange County commercial real estate investment and management company specializing in retail, today announced the acquisition of San Gorgonio Village, a 14.30 acre Ground Up Development in Beaumont, California for an undisclosed amount. Centrally located adjacent to E First Street, and Highland Springs Ave. off the 10 Freeway.
SGV Land, LLC, a joint venture among Wood Investments Companies, Joel H. Farkas of American Gateway Resources, a real estate development company based in Colorado, and G & G Beaumont a California-based private real estate investment firm, acquired the property.
San Gorgonio Village is a Ground Up Development, which offers convenient access for local and regional shoppers with National, Regional and Local Tenants in an underserved retail market. Future tenants to be introduced in the center include: Grocery Outlet, Planet Fitness, 5 Below, Ulta Beauty, as well as Cinema West, which will be the only movie theater in the city or its neighboring communities. SGV, LLC also plans to add numerous other tenants ranging from quick service and sit down restaurants as well as clothing and service retailers. San Gorgonio Village is scheduled to open 2nd Quarter of 2020.
With the growing population in Beaumont and inclusion of a movie theater, we anticipate San Gorgonio Village will become the focal point for retail in the established and growing trade area as well as compliment the existing Tenants.
About Wood Investments Companies
Wood Investments Companies (WIC) is headquartered in Costa Mesa, Ca and operated and managed by Patrick Wood with the WIC team consisting of Matthew Bush, Jeff Hopkins and Jeff Nieabum.. WIC is a privately held commercial real estate investment and management firm that acquires, owns, operates and develops commercial retail and housing properties with a focus on value-add development and investments. The Company and its sister companies have over 40 years of combined experience and success in the California commercial real estate industry.
WOOD INVESTMENTS COMPANIES COMMENCES CONSTRUCTION ON PLAZA DE PERRIS EXPANSION
WOOD INVESTMENTS COMPANIES COMMENCES CONSTRUCTION ON PLAZA DE PERRIS EXPANSION
Ross, Burlington, Planet Fitness, Ulta Beauty, Mountain Mike’s Pizza, Five Below and Hibbett Sports among the new retail locations to be added to the plaza
Riverside and Orange County, Calif – September 18, 2018 – Wood Investments Companies, a leading Orange County commercial real estate investment, development and management company specializing in retail, today announced the start of their construction efforts to expand the Plaza de Perris, a 150,148-square-foot grocery-anchored shopping center on 38 acres in Perris, California. The 133,000-square foot expansion—which includes anchor tenants Ross and Burlington, as well as Planet Fitness, Ulta Beauty, Mountain Mike’s Pizza, Five Below and Hibbett Sports—kicked off on August 21 with a groundbreaking ceremony with the City of Perris.
This is the first major milestone in Wood Investment Companies’ collaboration with the City of Perris to grow the Plaza de Perris. Development of the shopping center which is adjacent to the 215 Freeway at the West Nuevo Exit, slowed following the construction of a Food4Less and Regency 10 Theatre in 1996, and the adjoining land pads entitled for retail space have remained unused since then. Wood Investments Companies purchased the property in 2017 with the goal of making it a focal point for retail in the growing trade market.
Located next to Perris’ major thoroughfares and interstate commuter traffic, the property provides daily traffic counts of more than 161,500 vehicles per day. The central location, economic benefits of jobs and tax revenue, and prospect of leveraging the available real estate in an already popular shopping destination represented opportunity to both the City of Perris and Wood Investment Companies.
During the groundbreaking ceremony, Patrick Wood of Wood Investments joined Perris Mayor Michael Vargas, Corona Mayor Pro-Tem Malcolm, City Council Members Tonya Burke, David Starr Rabb and Rita Rogers, City Clerk Nancy Salazar, City Manager Richard Belmudez and Assistant City Manager Clara Miramontes, to express his mutual excitement for the project.
“First and foremost, we give credit to the city, the tenants, and our entitlement and construction team for getting this started in such a short period of time," said Patrick Wood of Wood Investments Companies. “This cross-organizational collaboration is what sets us apart in the industry, and what will allow us to execute on such an ambitious timeline to bring these new retail locations to the Perris community.”
For more information, visit the Wood Investments Companies website and blog.
About Wood Investments Companies
Wood Investments Companies is operated and managed by Patrick and James (Jim) T. Wood. Headquartered in Orange County, Wood Investments Companies is a privately held commercial real estate investment and management firm that acquires, owns, operates and develops commercial retail properties with a focus on value-add development and investments. The managing partners have over 40 years of combined experience and success in the California commercial real estate industry.
WOOD INVESTMENTS COMPANIES ANNOUNCES ACQUISITION OF PERRIS PLAZA; PLANS TO EXPAND POPULAR INLAND EMPIRE SHOPPING CENTER
WOOD INVESTMENTS COMPANIES ANNOUNCES ACQUISITION OF PERRIS PLAZA; PLANS TO EXPAND POPULAR INLAND EMPIRE SHOPPING CENTER
Los Angeles and Orange County – December 19, 2017 – Wood Investments Companies, a leading Orange County commercial real estate investment and management company specializing in retail, today announced the acquisition of Perris Plaza, a 150,148-square-foot grocery-anchored shopping center on 38 acres in Perris, California for an undisclosed amount. Centrally located adjacent to the 215 freeway at the West Nuevo exit, Perris Plaza offers convenient access for local and regional shoppers.
Nuevo Perris, LLC, a joint venture among Wood Investments Companies, Joel H. Farkas of American Gateway Resources, a real estate development company based in Colorado, and SandTree Holdings, an El Segundo-based private real estate investment firm, acquired the property.
HFF, one of the largest and most successful commercial real estate capital intermediaries, represented the seller and Fortress Investment Group, a leading global investment manager, provided debt financing to Nuevo Perris, LLC.
Perris Plaza is a 150,148-square foot grocery-anchored shopping center. Existing tenants include Food4Less (grocery and new fuel station), Rite Aid, Regency Theatres, Starbucks, Del Taco, IHOP and many others. Nuevo Perris, LLC plans to nearly double the size of the shopping center to over 300,000 square feet with the addition of promotional retailers, fitness and restaurants. Leasing has already commenced.
“We are excited about the opportunity to expand the plaza to become the most impactful community center in Perris,” said Joel H. Farkas of American Gateway Resources. “With the growing population in Perris and relocation of Walmart in 2015 to the adjacent parcel north of Perris Plaza, we anticipate Perris Plaza will become the focal point for retail in the growing trade market.”
“We appreciate the Coudures Family and HFF for entrusting us with a property that has been with the seller’s family for multiple generations and has served the community of Perris for nearly 25 years. We plan to build on the foundation of an already incredible destination and make it an indispensable community attraction for current and future residents of the area,” said Patrick Wood of Wood Investments Companies.
For more information, visit http://www.woodinvestments.com
About Wood Investments Companies
Wood Investments Companies is operated and managed by Patrick and James (Jim) T. Wood. Headquartered in Orange County, Wood Investments Companies is a privately held commercial real estate investment and management firm that acquires, owns, operates and develops commercial retail properties with a focus on value-add development and investments. The managing partners have over 40 years of combined experience and success in the California commercial real estate industry.
WOOD INVESTMENTS COMPANIES COMPLETES CONSTRUCTION OF NEW BURLINGTON IN UPLAND
WOOD INVESTMENTS COMPANIES COMPLETES CONSTRUCTION OF NEW BURLINGTON IN UPLAND; GRAND OPENING AND RIBBON-CUTTING CEREMONY SCHEDULED FOR SEPTEMBER 14
First of many new retail locations slated to open in revitalized Upland Village Center this year
Los Angeles and Orange County, Calif – September 13, 2018 – Wood Investments Companies, a leading Orange County commercial real estate investment and management company specializing in retail, today announced the construction completion of a 40,000-square-foot Burlington Coat Factory in the newly revived Upland Village Center. Located at the northeast corner of Foothill Boulevard and Euclid Avenue, it will officially open for business on Friday, September 14th.
This is the first new major tenant opening in the approximately 150,000-square-foot Upland Village Center that was purchased by Wood Investments Companies in 2017 for $18.5 million and is being renovated by the firm. Built in 1968, Upland Village Center is in the heart of an established retail corridor along Foothill Boulevard that was once occupied by a 65,000-square-foot Dick’s Sporting Goods but remained vacant for more than seven years.
Wood Investments Companies is in the first phase of development, with popular destinations Ross, Raising Cane’s, MOD Pizza and Chop Stop projected to be completed this year. The company is currently in negotiations and pre-leasing for the remainder of phase 1 and phase 2. Phase 2, which includes Blink Fitness, will start construction by November.
“This was an underutilized space for nearly a decade. We saw immediate opportunity to transform it into a location that will benefit both the local community and the businesses that serve them, ”said Matthew Bush of Wood Investments Companies.
Burlington joins an existing 99 Cents Only store and Laser Island which remained open in Upland Village Center through construction.
“The grand opening is a milestone for the center. We worked closely with the Burlington team to build this store to their exact specifications and are proud of the creative reuse of the building,” said Bush. “We look forward to the many additions that will be rolling out on the property in the coming months.”
For more information, visit http://www.woodinvestments.com
About Wood Investments Companies
Wood Investments Companies is operated and managed by Patrick and James (Jim) T. Wood. Headquartered in Orange County, Wood Investments Companies is a privately held commercial real estate investment and management firm that acquires, owns, operates and develops commercial retail properties with a focus on value-add development and investments. The managing partners have over 40 years of combined experience and success in the California commercial real estate industry.
ICSC Las Vegas
This past month the Wood Investments Co team attended the Global Retail Real Estate Convention in Las Vegas, hosted by ICSC. We departed on our five hour drive from Orange County Sunday Morning and arrived in Las Vegas by the mid afternoon.
Sunday early evening was spent watching the Las Vegas Hockey Knights seal their fate to the Stanley Cup in the first year as a NHL Franchise. After collecting our badges, we ended up seeing Post Malone who was in town for the Billboard Music Awards.
On Monday morning the WIC team met with the Moorefield Construction Team at the Wynn to discuss our Upland project and to see if there are any more efficient ways to expedite our construction time, while being considerate of the communities. Moorefield has been a strategic partner of ours since inception and continues to provide valuable real time market data that helps everyone be more efficient.
Shortly after the meeting, the WIC team went over to the ICSC convention. Over 40,000 people attended the convention including brokers, developers, tenants, and cities. The WIC team held several meetings with existing clients, such as Dollar Tree, Ross, and Burlington, to discuss status updates on our existing projects and potential sites for new acquisitions. We met several tenants who had strong interest in our upcoming projects. A few of these tenants were Orange Theory, WSS, Sports Clips, Planet Fitness, Western Dental, and Blaze Pizza.
Monday night, WIC hosted several of its key investors and tenants for dinner and then following at the Chainsmokers concert at XS. WIC believes that building relationships with its partners and clients is the foundation to success.
On Tuesday the WIC team returned to the ICSC convention. We met with several other tenants; Auto Zone, Cycle Bar, Panda Express, Dairy Queen, and Farmer Boys to name a few.
Tuesday night was a short night of dinner at MGM and cocktails with our team to strategize of how we are going to be following up when we get home.
WIC left Las Vegas Wednesday morning for the drive home, pulling into Orange County in the late afternoon.
Thursday was a day of organization and Friday morning our team met for breakfast At Haute Cakes back home to discuss the conference and how to follow up on the many successful meetings.
We are looking forward to seeing everyone in the fall at ICSC in Los Angeles
Walls are going up in Upland!
Upland is coming along nicely. The footings have been dug and poured and the walls are going up.
Upland Is Under Construction
Upland is under construction. We should be done with construction in late September. Check back for updates!
Aging, mostly empty Upland shopping center to get overhaul and new tenants
UPLAND >> A half-century old Upland shopping center has a new, er, lease on life after its new owners have announced a slate of new tenants and renovations.
Ross Dress for Less to open a New Store in Bakersfield, California
Ross Dress for Less® ("Ross") will open a new store in Bakersfield on March 10, 2018. The 25,000 square foot store is located in the Olive Plaza Shopping Center at the northeast corner of Olive Drive and Victor Street. This new location will increase the store count to 294 in California.
Lancaster Update
Here is what our El Pollo Loco Building is looking like after a couple months of construction. Keep your eye out for the grand opening September 25th!