A Los Angeles developer has purchased property in San Bernardino that it plans to have entitled for commercial development.
Dunleer LLC, a private real estate investment and development company, purchased the 4.6-acre parcel at the southeast corner of Cajon Boulevard and June Street for $2.7 million, according to a statement released Tuesday.
“We were able to secure below-market pricing on this land parcel and are looking to add value to all stakeholders by working through an entitlement process,” said BJ Turner, founder of Dunleer, in the statement.
Information about the seller was not released. Growth Investment Group, a commercial real estate brokerage in San Gabriel, represented both parties in the negotiations.
Dunleer specializes in niche commercial properties in Southern California. It has made 10 acquisitions during the past 18 months and is in escrow on several of those properties, according to the statement.