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12/21/15
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San Bernardino Marketplace, a 58.7k sf, neighborhood shopping center anchored by specialty grocer, El Super, traded hands in a $12.3 mil ($210/sf) transaction. It was acquired by a Los Angeles-based 1031 exchange buyer who purchased the asset as an addition to their real estate portfolio.
Built in 1983, San Bernardino Marketplace sits on just over five acres at 263-275 E 9th St, east of I-215 and north of I-10. It was 96% occupied at time of sale.
CBRE’s Arthur R. Flores represented the seller, an undisclosed OC-based family partnership. Flores also repped the buyer. The deal closed at a 6.1% cap rate.
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