Wohl Pays $33 Million for 4 Business Properties

Wohl Investment Co. in Irvine said Wednesday that it has purchased parcels at the Ontario Mills mall and one of the largest business parks in Riverside as part of four acquisitions recently completed for a total of $33 million.

The company, which specializes in commercial and industrial real estate investments, picked up 12.5 acres adjacent to Ontario Mills. Wohl didn’t disclose the purchase price but said the land is valued at about $8 million. The company plans to put restaurants and a retail plaza on the site.

The company also acquired the Commerce Square Business Park in Riverside for $17.5 million. The 23.3-acre site with 386,000 square feet of space consists of offices and five industrial buildings.

Wohl also paid $5.9 million for the Diamond Bar Ranch Plaza in Diamond Bar, a 5.3-acre retail site it will convert into mostly office space, and paid $4.5 million for a 5.1-acre commercial and industrial site in Rancho Cucamonga.