The center is at 97% occupancy with 41 tenants across nine buildings
SAN BERNARDINO, Calif. – November 2, 2023 – CBRE facilitated the sale of the San Bernardino Industrial Center, a nine-building industrial incubator project located at 360-458 East Rialto Avenue in San Bernardino for $9.2 million.
Sammy Cemo, Anthony DeLorenzo, Bryan Johnson, Nick Williams and Austin Reuland of CBRE’s Investment Properties, alongside CBRE’s Barbara Perrier and Eric Cox, represented the seller, a partnership between Birtcher Anderson & Davis and Belay Investment Group.
“This property has a strong tenancy history,” said Mr. Cemo, first vice president at CBRE. “With its high occupancy, the property offers stability, cash flow and diversification for the new owner. New ownership will also benefit in capturing future upside by continuing the business plan in bringing in-place rents to market levels.”
At the time of the sale, the property’s 41 tenants occupied 97% of the building. The 52,642 sq. ft. property features nine ft. to 12 ft. clear heights and 56 ground-level loading doors.
The 3-acre industrial center is east of Interstate 215 and minutes from the San Bernardino International Airport, providing quick access to and from various tenants in the building.
According to CBRE Research, the Inland Empire remains the strongest industrial market in the U.S. The region consists of over 656 million sq. ft. of industrial inventory and a low vacancy rate of 3.5% in Q3 of this year.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
