Wood Investments Cos. Acquires 99 Cents Only-Anchored Shopping Center in Fresno for $11.8 Million

Fresno, Calif. — Wood Investment Cos. Inc. has acquired Kings Canyon Pavilion shopping center, a 152,354-square-foot retail center anchored by 99 Cents Only in Fresno, for $11.8 million. Built in 2007, the 91 percent-occupied property is situated at 4965 East Kings Canyon Road. By the close of escrow, Wood Investments had secured leases with Raising Cane’s Chicken Fingers and Dutch Bros. to occupy two new single-tenant pad buildings. Both tenants are expected to open in mid-2022. Current tenants at the property include O’Reilly Auto Parts, Cricket Wireless Authorized Retailer, Corina’s Taqueria restaurant, indoor family entertainment complex, No Surrender Unlimited and Fallas Paredes. Nick Frechou of Retail California represented Wood Investments Cos. Inc. in the acquisition. Decron Properties Corp. of Los Angeles was the seller.