Wednesday , April 17 2024
San Bernardino industrial project sold

San Bernardino industrial project sold

A nine-building industrial project in San Bernardino has been sold for $9.2 million.

San Bernardino Industrial Center at 360-458 E. Rialto Ave. sold recently for $175 per square foot, according to a statement.

CBRE represented the seller, a partnership between Birtcher Anderson and Davis and Belay Investment Group. The 52,600-square foot industrial center had 47 tenants and was 97percent leased when it changed hands.

“This property has a strong tenant history,” said Sammy Cemo, first vice president with CBRE, in the statement. “With its high occupancy, it offers stability, cash flow and diversification for the new owner.”

The project is near San Bernardino International Airport, which is mostly a cargo-handling facility.

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