Canyon Park East

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Orange County-based Wood Investment Cos. isbullish on the Twin Falls, Idaho, retail market. The investmentfirm recent closed on two retail assets in the market, Canyon ParkEast and Canyon Park West, which total 300,000 square feet. Bothassets are 100% leased and come with significant value-addopportunity through the ability to develop and lease pads on thesites.

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"Twin Falls is a market that we had targeted for the last fiveyears," Patrick Wood, managing general partner atWood Investment Cos., tells GlobeSt.com. "It has a lot of similarand key attributes that all of our other projects have. Those keyattributes were the original reason we looked at the assets and abig reason we moved forward. My family has a 40-year relationshipwith Southern Idaho, and a familiarity to the assets and watchingthem get built over the years. We look forward to completing thebuild out and stabilizing the properties for futuregenerations."

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Twin Falls has a lot of appealing attributes as a secondarymetropolitan with strong demographics. "Twin Falls is the largestmetropolitan area and fastest growing city in the Magic Valleyregion of Southern Idaho," explains Wood. "The Twin FallsMetropolitan Statistical Area has a population of over 106,500. Thelow cost of living, ease of doing business, and plentiful access tooutdoor recreational activities has sparked major growth andcorporate investment in Twin Falls over the past decade."

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As a result of these strong demographics, the market attractstop, national retail brands, strengthening the retail market andleasing opportunities. "The Twin Falls area has steadily attractedsome of the nation's biggest retailers and manufacturers, includingCliff Bar, Glanbia, ConAgra Foods, Amalgamated Sugar, and Chobani,which built the largest yogurt plant in the world in Twin Falls,"says Wood. "Twin Falls area has been named a manufacturingcommunity for 'all things food' by the U.S. Department ofCommerce."

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Wood's recent purchase of Canyon Park East and Canyon Park Westwere an ideal fit for its business plan and strategy in the market."It had all of the tenants we love plus the property has aprominent location directly on the canyon rim, which is visible onthe highway for miles," says Wood. "We plan on leasing anddeveloping the vacant pads that are currently undeveloped in theCanyon Park West shopping center."

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This year, Wood will continue to look for opportunities in thismarket as well as other mountain states, with an eye on marketswest of Colorado. "We like this market amongst others in theMountain States and also in the Northwest," says Wood. "We are goodbuyers and partners for the right assets. We are lookingfor well-located value-add opportunities to incorporate our designand tenant influence to create sustainable and new shoppingexperiences."

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.