Wood Investments Companies Acquires Former Kmart Building In Big Bear Lake For $6.5M
42126 Big Bear Boulevard
Summary
Wood Investments Companies, Inc., led by Patrick Wood, has acquired a former Kmart building in Big Bear Lake, California. The development site, located at 42126 Big Bear Blvd, spans 7.49 acres and has been purchased for a total sale price of $6,500,000. Wood Investments Companies plans to construct an 80,800-square-foot grocery-anchored shopping center on the property.
Summary of Transaction Details:
- Property Type: Development Site
- Sale Price: $6,500,000
- Date: 04/26/2023
- Address: 42126 Big Bear Blvd
- Market: Big Bear Lake
- Asset Type: Development Site
- Acres: 7.49
The buyer's representative in this transaction was Charley Simpson from Colliers International. The deal was facilitated by them to ensure a successful acquisition on behalf of Wood Investments Companies, Inc. Construction on the grocery-anchored shopping center is scheduled to begin in the fourth quarter of 2023, with an anticipated opening in March 2024. The development is set to feature an anchor Grocery Outlet, a soft goods retailer, and an additional third tenant, currently in lease negotiations.
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