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1/15/20
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Wood Investments Companies Inc acquired a two-tenant retail investment in San Bernardino occupied by Food 4 Less and Ross Dress For Less. The asset, consisting of 94k sf on 7.45 acres, 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 center also benefits from the proximity to San Bernardino’s City Hall, Superior Court, County Courts, Transit Center and San Manuel Stadium. It was sold by Canyon Developer LLC and 505 West Second LLC.
“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.”
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