IE Business Daily Business news for the Inland Empire.
A set of commercial fueling lanes under construction at a 7-Eleven in San Bernardino have been sold for $3 million.
The project’s developer, Chase Partners Ltd. in Glendale, sold the project to an Orange County investor whose name was not released, according to Hanley Investment Group in Corona Del Mar.
Hanley Investment arranged the presale. The property has a 15-year lease attached to it, which is expected to start in late August or early September.
The property at Redlands Boulevard and Hunts Lane is next to a large‑format 7‑Eleven convenience store with Laredo Taco Company and a regular service station. None of those properties were involved in the sale.
A commercial fueling lane serves semi-trucks, box trucks, construction equipment and other large vehicles exclusively. The San Bernardino project is a prototype that is still being developed, which makes its presale “extremely uncommon,” according to Hanley Investment.
Groundbreaking is expected to happen later this month. An opening date has not been announced.
