Redlands Business Park Acquired for $12M
An office business center in Redlands, CA sold to an undisclosed 1031-exchange buyer for $12.25 million. Located at 1453-1481 Ford St., the Class A office and retail business park includes seven buildings totaling 70,389 square feet, with more than 1,000 feet of frontage and signage opportunity along Interstate 10.
CBRE’s Gary Stache, Anthony DeLorenzo, Doug Mack, and Michael Day represented the seller, Olympic-Barrington Partnership.
Stache says, “Redlands is one of the hottest markets in the Inland Empire East, as the city boasts a vibrant up-and-coming downtown community, which is attractive for tenants seeking a more urban environment. This office center ideally caters to this increasing influx into the region.”
Developed in 2008, the property features modern design, high ceilings, and an abundance of parking. Retail amenities include Subway, Curves health club, and Tavola Pizzeria, as well as such tenants as Wells Fargo Mortgage, United Healthcare, and G&H Kickboxing.
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