San Bernardino Resurgence Attracts Investors

San Bernardino is experiencing a resurgence. Facilitated by support from the local government, the market growth is driven by an expanding population and job market. The trend has proven to be a winning combination for retail, and investors are showing up to take advantage of opportunities. An example of the trend, Wood Investment Cos. has acquired a grocery-anchored two-tenant retail property in the San Bernardino submarket. The property totals nearly 94,000 square feet on 7.45 acres.

“San Bernardino is seeing a revitalization that Wood Investments Cos. wanted to be a part of,” Patrick Wood, managing general partner of Wood Investment Cos., tells GlobeSt.com. “The key tenants of Food 4 Less and Ross further emphasized how much potential this property has in the near and long term. We are eager to get to work with the city and the new tenants to bring further revitalization to downtown San Bernardino.”

San Bernardino County has a population of 2.2 million, and the eponymous city has 221,000 residents. Downtown San Bernardino, where the Wood acquisition is located, also has strong traffic. “On any given day, there are 15,000 to 20,000 governmental employees and patrons in Downtown San Bernardino and nearly 367,000 people reside within five miles of the property,” says Wood.