FGNV
Industry:
Real Estate Development & Services

DESCRIPTION

Forge Innovation Development Corp. is a small real estate company based in Jurupa Valley, California. Its only material operating asset is Mission Marketplace, a grocery-anchored shopping center at 6240 Mission Boulevard in Jurupa Valley. The property spans roughly 48,700 square feet of gross leasable area across three buildings on a 4.5-acre site. Forge acquired a 51% interest in the entity owning this property in March 2023, and rental income from Mission Marketplace is currently the company's sole meaningful revenue source. Beyond operating Mission Marketplace, Forge's stated goals include acquiring and developing land for residential and commercial use in Southern California, as well as offering property management services to third-party owners — though neither activity has generated material revenue. The company has one employee, its President and CEO. Forge's current revenue model is simple: it collects rent from tenants at Mission Marketplace, with revenue driven by occupancy and lease rates. The company's broader land development ambitions involve buying raw or distressed land, obtaining entitlements, improving infrastructure, and selling developed properties — a capital-intensive model with long lead times. Forge also aims to generate recurring fee income through third-party property management, a lower-capital, service-based stream. In practice, Forge is effectively a micro-cap company with a single income-producing asset rather than a diversified real estate operator.

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