IE Business Daily Business news for the Inland Empire.
A multi-tenant commercial project in San Bernardino has been sold for $6.7 million.
The 44,290 square-foot “flex center” at 165 E. Hospitality Lane is part of the Tri City Commercial Hub/Hospitality Lane District, one of the Inland Empire’s most popular commercial centers, according to Progressive Real Estate Partners in Rancho Cucamonga.
Progressive represented the seller, a Los Angeles-based investor whose name was not released. The buyer, a private Orange County investor who also wished to remain anonymous, owns other commercial properties in Riverside and San Bernardino counties, according to Progressive.
Nearby businesses include the Loma Linda University of Dentistry, Hospitality Executive Center, Hospitality Plaza Medical Center Staybridge Suites, El Torito, Red Lobster, and IHOP.
Built in 1980, the project is near the intersection of Interstates 10 and 215. It has has more than 4.4 million square feet of office, industrial, retail and hospitality uses and nearly 65,000 people work there, according to Progressive.
