Wood Investment Debuts 150K SF Target Store at Perris Shopping Center
Wood Investment Companies has officially added its biggest tenant to its Plaza de Perris shopping center. A 149,655-square-foot Target store is now open to the public in the retail complex.
The big box retailer now headlines the center in Perris, California, which spans almost 300,000 square feet in total. The Target joins the anchor of the property (Burlington) and other brands including Ross, Food 4 Less, Planet Fitness and Five Below.
Formerly, the Target store was operated as a Regency Theatres — with Wood Investment deciding to redevelop the space to give residents in the area more daily shopping options, according to Patrick Wood, president of the firm.
The new store's offerings will include grocery, home goods, apparel, a Starbucks cafe, a CVS Pharmacy and other everyday essentials. Plus, other perks the location will include pickup and delivery services, Target Optical, electric vehicle stations and Apple at Target.
Importantly, Wood Investment is betting on Perris' continued growth, with the area doubling its population over the past two decades and more than 400,000 residents living within 10 miles of the shopping center, which also sits near Interstate 215.
Also, Perris sits in Riverside County, which is forecasted to add more than 20,000 new homes by 2030, which should continue to drive demand for retail in the area, according to the company.
"Target's commitment to Perris reinforces the strength of this corridor and the momentum we continue to see at Plaza de Perris," Wood said in a statement.
"Our goal is to bring best-in-class retailers to high-growth communities, and Target's opening is a perfect example of how thoughtful redevelopment can create lasting value for both residents and retailers."
Source: GlobeSt/ALM