Wood Investment Companies, Inc. (WICo) has opened a new Target store at Plaza de Perris, bringing a 149,655-square-foot big-box retailer to the established shopping center at 1688 N. Perris Blvd. in Perris. The company framed the opening as an important milestone for both the property and the surrounding Inland Empire communities.
The new Target replaces the former Regency Theatres building on the site. According to WICo, the movie theater closed in 2024 after operating for nearly three decades. Following the closure, WICo demolished the former cinema to clear the site and develop a purpose-built store for Target, culminating in the recent opening.
Plaza de Perris itself totals nearly 300,000 square feet and is already home to a roster of national and value-oriented retailers. Existing anchors at the center include Burlington, Food 4 Less, Ross, Planet Fitness and Five Below. The addition of Target further strengthens the center’s lineup of daily-needs and discount-focused offerings, reinforcing Plaza de Perris as a regional shopping destination for residents of Perris and nearby Inland Empire communities.
Patrick Wood, president of WICo, described the project as a long-term initiative for both the company and the City of Perris. He noted that transforming the former Regency Theatres property into a modern Target store had been a priority shared between WICo and local stakeholders. Wood characterized the opening as the result of years of collaboration, planning and investment directed at repositioning the site to better serve contemporary retail demand.
Wood also emphasized that bringing a flagship retailer like Target to Plaza de Perris is intended to elevate everyday shopping options for the community. The new store is positioned to draw additional customer traffic to the center, complementing the existing tenant mix and potentially increasing cross-shopping among the other anchors and in-line retailers. For the broader Inland Empire area, the conversion of a longtime entertainment use into a large-format retail store reflects an ongoing adaptation of older properties to current consumer preferences.
While specific project costs and lease details were not disclosed, the completion of this redevelopment underscores how owners and developers are actively reconfiguring legacy sites to accommodate high-demand national retailers. At Plaza de Perris, WICo’s work with the city to replace an aging theater with a new Target aligns the center more closely with present-day shopping patterns and positions the property for continued relevance within the local retail landscape.
