January 14, 2020
Costa Mesa, CA-based Wood Investments Companies, Inc. (WIC) has acquired a retail center occupied by Food 4 Less and Ross Dress For Less, totaling nearly 94,000 square feet on 7.45 acres in San Bernardino, CA, for an undisclosed price. The seller was Canyon Developer, LLC and 505 West Second, LLC.
The center is located at 505 and 555 W. 2nd St., in the heart of San Bernardino’s downtown. It was originally built in 1973; the company plans a significant re-positioning.
According to WIC’s Patrick Wood, the company plans “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.”
This type of immediate-need, home-essential, neighborhood-local, grocery-anchored retail center has remained a relevant target for California retail investors.
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