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Birtcher JV Sells Nine-Building Industrial Incubator
CBRE facilitated the sale of the San Bernardino Industrial Center, a nine-building industrial incubator project located at 360-458 E. Rialto Ave. in San Bernardino, for $9.2 million.
Sammy Cemo, Anthony DeLorenzo, Bryan Johnson, Nick Williams and Austin Reuland of CBRE’s Investment Properties, alongside CBRE’s Barbara Perrier and Eric Cox, represented the seller, a partnership between Birtcher Anderson & Davis and Belay Investment Group. The buyer wasn’t identified.
“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.”
At the time of the sale, the property’s 41 tenants occupied 97% of the center. The 52,642-square-foot property features 9’ to 12′ clear heights and 56 ground-level loading doors.
- ◦Sale/Acquisition
