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August 26, 2019
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RETAIL NEWS
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International Properties Holding Group LLC Buys 143k sf Inland Empire Retail Asset

1/09/19

In a recent Inland Empire retail buy, International Properties Holding Group LLC has acquired San Bernardino Target Center, a 143k sf property in San Bernardino. The center, located at 499 W. Orange Rd, was sold by Brixmor Property Group.

The property is situated one exit north of the 215 and 10 freeway interchange with an average of 360,000 cars per day. San Bernardino Center is fully occupied by a 105.6k sf Target and a 37.4k sf Big Lots.

Dixie Walker and Charley Simpson with Cushman & Wakefield represented the seller in the transaction. The buyer was self-represented. The deal value was not disclosed.

“It was a quick all-cash sale to a 1031 exchange buyer. The buyer recognized the rare ability to own a successful Target store combined with an adjacent long term Big Lots,” Walker said. “The site also had longer term re-development potential to add additional footage.”

San Bernardino County is one of the leading regions in California for job growth and population growth. Over the last few years San Bernardino has experienced explosive growth in the lease-up and development of big box industrial distribution and warehouse projects, which has translated into strong job growth and an increase in taxable sales in the immediate trade area.





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