Wood Investments Cos. Secures $54M Loan For The Ranch At Model Colony In Ontario, California

Wood Investments Cos. secures a $54 million loan for The Ranch at Model Colony, a 200,000 sq ft retail project in Ontario, California. The development is situated on a 17-acre development site at the southwest corner of Ontario Ranch Road and Hamner Avenue. The property is located in the Ontario market and has a building square footage (BSF) of 200,000.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $54,000,000
• Location: SWC Ontario Ranch Road & Hamner Avenue, Ontario
• Market: Ontario
• BSF: 200,000
• Acres: 17

The loan is provided by Justin Kennedy of 3650 REIT as a construction loan. The loan terms are set for a period of 24 months, providing the necessary financing for the development of The Ranch at Model Colony. Greg Vujnov of Wood Investments Cos. serves as the landlord for the project, while Ben Kadish of Maverick Commercial Mortgage Inc represents the project as the broker.

The Ranch at Model Colony is a 200,000 sq ft retail project that has already received significant leasing interest, with over 90% of the space preleased. The development boasts a desirable location easily accessible via the 15 Freeway and managed by CBRE. Tenants like Ross and Chipotle have already committed to the project, adding to its potential success in the Ontario market.