Wood Investments acquires “great value-opportunity for the Inland Empire”
SAN BERNARDINO — Wood Investments Companies, Inc., a leading California commercial real estate investment and management company specializing in retail, announced today the acquisition of a two-tenant retail investment occupied by Food 4 Less and Ross Dress For Less totaling nearly 94,000 square feet on 7.45 acres in San Bernardino, California.
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“This is a great value-opportunity for us in the Inland Empire,” said Managing General Partner Patrick Wood of Wood Investments Companies. “We plan to tear down the vacant Union Bank building and build supporting complementary retail and shop buildings. We look forward to offering a variety of retail, quick-serve food options and services for the surrounding community.”
More than 221,000 live in the city of San Bernardino (2018) and the county of San Bernardino has over 2,174,000 people.
The center is located at 505 and 555 West 2nd Street, in the heart of San Bernardino’s downtown. Built in 1973, the property enjoys excellent visibility being fronted by four streets and four signalized corners, and is easily accessible by Interstate 215 from the west and Interstate 10 from the south. The Carousel Mall, which is across the street, is undergoing major redevelopment. Other tenants in the area include Marshalls, dd’s Discounts, Starbucks and Big Five Sporting Goods.
The Food 4 Less/Dress For Less retail center also benefits from the proximity to San Bernardino’s City Hall, Superior Court, County Courts, Transit Center and San Manuel Stadium.
Wood adds, “The property is ideally located to cater to the core demographics and the customer base of the center’s existing tenants, ensuring long-term desirability.”
The seller was Canyon Developer, LLC and 505 West Second, LLC.
“This is a great value-opportunity for us in the Inland Empire,” Managing General Partner Patrick Wood of Wood Investments Companies explained; saying, “We plan to tear down the vacant Union Bank building and build supporting complementary retail and shop buildings.
Wood Investments Companies (WIC) is headquartered in Costa Mesa, California, and operated and managed by Patrick Wood with the WIC team consisting of partners Matthew Bush and Jeff Hopkins. 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. See www.woodinvco.com.
Submitted by Monaghan Communications Inc.
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Trevor Montgomery, 48, moved in 2017 to the Intermountain area of Shasta County from Riverside County and runs Riverside County News Source and Shasta County News Source. Additionally, he writes or has written for several other news organizations; including Riverside County based newspapers, Valley News, (the now defunct) Valley Chronicle, Anza Valley Outlook, and Hemet & San Jacinto Chronicle; as well as Bonsall/Fallbrook Village News in San Diego County and Mountain Echo in Shasta County.
Trevor spent 10 years in the U.S. Army as an Orthopedic Specialist before joining the Riverside County Sheriff’s Department in 1998. He was medically retired after losing his leg, breaking his back, and suffering both spinal cord and brain injuries in an off-duty accident. (Click here to see segment of Discovery Channel documentary of Trevor’s accident.)
During his time with the sheriff’s department, Trevor worked at several different stations; including Robert Presley Detention Center, Southwest Station in Temecula, Hemet/Valle Vista Station, Ben Clark Public Safety Training Center, and Lake Elsinore Station; along with other locations.
Trevor’s assignments included Corrections, Patrol, DUI Enforcement, Boat and Personal Water-Craft based Lake Patrol, Off-Road Vehicle Enforcement, Problem Oriented Policing Team, and Personnel/Background Investigations. He finished his career while working as a Sex Crimes and Child Abuse Investigator and was a court-designated expert in child abuse and child sex-related crimes.
Trevor has been married for more than 29 years and was a foster parent to more than 60 children over 13 years. He is now an adoptive parent and his “fluid family” includes 13 children and 16 grandchildren.