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12/23/20
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A 16.3k sf, historic mixed-use property in Redlands was purchased by the Feldkamp family, a local private buyer, for $3.5 mil, or about $215/sf. Located at 21 W. Stuart Ave in Redlands’ downtown area, the property consists of two buildings that were originally built in 1889 as a warehouse and sales facility for hay and grain and agricultural implements to support the booming citrus industry in the valley in the late 1800’s.
The property, one of the oldest in the area, experienced a variety of uses since its construction, including as a nursery and skate park, before being purchased by the most recent owner in 2002 for the headquarters of Statistical Research Inc. Extensive renovations were completed over the last 18 years while maintaining the structure’s historical significance.
The single-story exposed brick property sits adjacent to the historic “Santa Fe Depot,” which was recently acquired and will soon be used for the passenger rail platform for the Arrow Light Passenger Rail System and Metrolink, connecting Downtown Los Angeles to Redlands. The new buyer will target retail users, including traditional retailers, breweries, restaurants and live entertainment operators.
CBRE’s Michael Day represented the buyer and the seller, also a private investor, in the deal. According to Day, this area of downtown Redlands has seen incredible growth and new construction over the last few years.
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