Former Kmart in Big Bear Lake Will Become Grocery-Anchored Center
Former Kmart in Big Bear Lake Will Become Grocery-Anchored Center
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.
The former Kmart building was built in 1992 and has sat vacant since early 2021. “Wood Investments has been looking for an investment property in Big Bear for close to four years with specific tenants in mind,” said Patrick Wood, CEO and president of Wood Investments. “As soon as the former Kmart property became available, we took the opportunity.”
He added, “We look forward to the completion of the new Big Bear Lake Shopping Center in March 2024.”
Colliers’ Charley Simpson represented Wood Investments in the acquisition. Nick Wirick, Chris Beauchamp and Miranda Montgomery with Lee & Associates in Riverside will handle leasing of the shopping center.
04/24/23
