IE Business Daily Business news for the Inland Empire.
A Yucaipa property occupied by an In-N-Out Burger and Corky’s Kitchen & Bakery has been sold for $8 million.
The 2.2-acre site next to Interstate 10 at Yucaipa Boulevard sold for approximately $956 per square foot, a record for a two-tenant retail property in that part of San Bernardino County, according to Hanley Investment Group in Corona Del Mar.
The seller, VantageOne Real Estate Investments LLC in Newport Beach, was represented by Hanley Investment, a real estate brokerage and advisory firm that specializes in selling retail properties.
The buyer, a Los Angeles investor whose name was not released, was represented by TFS Properties in San Marino.
Built in 2016, the In-N-Out Burger and Corky’s Kitchen & Bakery properties next to each other at 31465 and 31467 Avenue E in Yucaipa. Both have long-term leases on the site.
Hanley Investment has completed more than $6 billion worth of transactions nationwide, including 32 sales in Riverside and San Bernardino counties during the past year, according a statement.
