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California  + Inland Empire  + Retail  | 

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. 

Hear from CRE industry leaders like TruAmerica Multifamily President & CEO Bob Hart. Come together with top dealmakers, owners, investors, lenders and more at Connect LA on May 3 at the Hotel Indigo.  

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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