SAC Health, a nonprofit community healthcare organization that provides services throughout the Inland Empire, is growing its presence in the area. In a recent deal that closed on Jan. 30, the healthcare provider paid $35.25 million, or about $125 per square foot for a 280,183 square foot office building. The seller in the transaction was an entity linked to Strategic Office Partners.
The five-story office building is located at 1003 E Brier Dr. in San Bernardino. The building sits on 14.53 acres and also includes two two-story parking garages totaling 129,451 square feet.
The property is situated just north of Interstate 10 and within close proximity to the Loma Linda University Medical Center. The site is also closely situated to nearby retail amenities, such as Costco, Starbucks, Panera Bread and more.
According to SAC Health’s website, the San Bernardino-based healthcare provider has served more than 181,000 patients in 2022 at its 10 locations. The organization has approximately 580 physicians as well.
Strategic Office Partners is an investment platform formed in 2016 by Gramercy Property Trust and TPG Real Estate. Since it was founded, Strategic Office Partners has acquired 41 buildings across the United States totaling nearly five million square feet.
Overall, the Inland Empire’s office market has been performing well in comparison to other Southern California markets. According to a fourth quarter office market report by CBRE, the Inland Empire has one of the lowest vacancies in all of Southern California at 8.62 percent. In addition, the Inland Empire’s overall availability rate in the fourth quarter decreased to 12.88 percent down from 14 percent in the third quarter. With strong activity in the office market, the Inland Empire saw a sales volume of approximately $131.7 million during the fourth quarter.
