Wohl Investment Co., Irvine, has opened escrow on the purchase of 13 acres owned by the Mills Corp., the last undeveloped property around the 1.7-million-square-foot Ontario Mills mall.
Company President Greg Wohl said tenants and developers are already showing strong interest in the property. He added that he is negotiating with several parties on each of the five parcels in the purchase.
Terms of the pending purchase were not disclosed.
Wohl Investment plans to develop a 30,000-square-foot strip retail center on one 2.7-acre parcel, and Wohl said he has a commitment by tenants to lease 70% of that project, even before the land sale is finalized.
