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The Krausz Companies Spends $13.45 Mil on Single-Tenant Building in San Bernardino

7/08/20

A single-tenant building occupied by the County of San Bernardino in the city of San Bernardino traded hands in a $13.45 mil transaction. The building, located at 265 East 4th St, was purchased by The Krausz Companies Inc, out of Irvine.

The two-story, 50.1k sf ($268/sf) building, built in 2009, sits on 4.62 acres at the southwest corner of the signalized intersection of 4th St and Waterman Ave. Waterman is one of the main trade area thoroughfares with more than 23,000 cars passing the site daily. More than 348,000 people live within five miles of the site and the Ontario International Airport (ONT) is just a seven-minute drive from the building.

Matt Burnett with Hanley Investment Group represented the seller, a private investor based in Los Angeles. Hanley colleague Ed Hanley represented the 1031 exchange buyer in the deal.

“This was a very rare government secured lease, with no early cancellation provision,” said Burnett. “Need-based government services such as this offer stability in the face of growing online sales as well as potential economic instability.”

The County of San Bernardino has an AA credit rating from Standard & Poors (S&P) and an AAA credit rating from Fitch. The property had no deferred maintenance and is LEED certified.

Burnett noted that the Inland Empire had the highest job growth rate in California and the highest home price growth in Southern California. The County of San Bernardino is home to more than 2.1 million residents with a 28% projected growth rate over the next 25 years.






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