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11/03/23
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San Bernardino Industrial Center, a nine-building, 52.6k sf industrial incubator in San Bernardino, traded for $9.2 mil ($175/sf). The property is located at 360-458 East Rialto Ave, east of I-215.
The property features 9’ to 12’ clear heights and 56 ground-level loading doors. At the time of the sale, the property's 41 tenants occupied 97% of the building. The three-acre industrial center is just minutes from San Bernardino International Airport.
Sammy Cemo, Anthony DeLorenzo, Bryan Johnson, Nick Williams and Austin Reuland of CBRE's Investment Properties, along with CBRE’s Barbara Perrier and Eric Cox, represented the seller, a partnership between Birtcher Anderson & Davis and Belay Investment Group.
"This property has a strong tenancy history," said Cemo. "With its high occupancy, the property offers stability, cash flow and diversification for the new owner. New ownership will also benefit in capturing future upside by continuing the business plan in bringing in-place rents to market levels."
According to CBRE Research, the Inland Empire remains the strongest industrial market in the U.S. The region consists of over 656 msf of industrial inventory and a low vacancy rate of 3.5% in Q3 of this year.
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