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November 29, 2023
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Wood Investments Companies Buys 19.6 Acres in New Ontario Ranch Master-Planned Community


Wood Investments Companies paid $18.49 mil for 19.6 acres in the new Ontario Ranch master-planned community in the city of Ontario. The firm plans to use the land to develop a 206.1k sf retail center anchored by a national grocery tenant, Burlington Coat Factory, Five Below, Hobby Lobby and Planet Fitness with more tenants to be announced.

The Ranch at Model Colony Shopping Center will be located at the heavily traveled intersection of Ontario Ranch Rd and Hamner Ave, about a half-mile from the Interstate 15 Fwy. The property is situated in the brand-new Ontario Ranch housing and employment area with over 46,000 homes built, under construction or entitled. The population in the Ontario Ranch master-planned community is expected to double within the next 20 years.

The property is also situated across from a high-volume Costco, In-N-Out Burger, Chick-fil-A, Quick Quack Car Wash and 1 msf of Amazon distribution centers. The location also benefits from its proximity to the Ontario International Airport. A new proposed Chaffey Community College is expected to be under construction in the near future on the adjacent property along Ontario Ranch Rd.

According to Greg Vujnov, Wood Investments Companies’ chief operating officer, the project is already 70% pre-leased with more tenant names including several top restaurants to be announced soon.

CBRE First Vice President Brian McDonald and Senior Vice President Walter Pagel represented Wood Investments Companies in the sales and lease transactions. The seller, San Diego-based GDC RCCD 2 LP, was also repped by CBRE. This is Wood Investments’ seventh acquisition in the Western United States in the last 19 months for a combined value of $138.34 mil including $70 mil in the last four months.

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