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10/31/24
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A portfolio of four adjacent, separately parceled single-tenant, net-leased properties in San Bernardino traded in a recent $7 mil deal. The properties, located at 2505-2575 Highland Ave, are occupied by IHOP, Wienerschnitzel, Taco Bell and a 76 Gas Station. In addition, the sale included approximately 1.5 acres of land ready for future development.
Ideally situated directly adjacent to the I-210 Fwy, the properties enjoy visibility to an average of over 100,000 cars per day. Prominent freeway pylon signage further enhances the visibility of the tenants and the center. Furthermore, the location shares a freeway exit with the popular Yaamava Resort & Casino (432 guest rooms) as well as the San Bernardino Soccer Complex (17 fields) providing the center excellent positioning as traffic flows to these popular destinations.
Lance Mordachini and Trinnie Lee with Progressive Real Estate Partners represented the Los Angeles County-based seller. Kevin Kwan with Realiv represented the San Bernardino County-based buyer.
“The opportunity to acquire quality real estate in a freeway adjacent location with established national brands was very attractive to the buyer,” commented Mordachini. “Furthermore, the portfolio features the income diversity of a multi-tenant asset while providing the ease of management typically associated with single tenant net leased assets.”
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