Wood Investments Companies, Inc., a commercial real estate investment company specializing in retail, has acquired a former Kmart building on 7.49 acres in Big Bear Lake. The new owner plans to develop an 80,800-square-foot grocery-anchored shopping center that is expected to be completed by March 2024.
Patrick Wood, CEO and president of Wood Investments said: “We have been looking for an investment property in Big Bear for close to four years with specific tenants in mind. As soon as the former Kmart property became available we took the opportunity.”
Colliers’ Charley Simpson represented Wood Investments during the acquisition process while Nick Wirick, Chris Beauchamp and Miranda Montgomery from Lee & Associates Riverside will handle leasing of the shopping center when it opens its doors next year.
