Sale of building occupied by County of San Bernardino fetches $13.5 million
SAN BERNARDINO, Calif. — Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of a single-tenant building occupied by the County of San Bernardino located at 265 East 4th Street in San Bernardino, California. The sale price was $13,450,000.
LEADING THE RCNS HEADLINES:
Shootout between San Jacinto teen and Banning man leaves teen dead
Woman found dead at San Jacinto home leads to murder investigation
One dead, one in custody, after deadly Menifee shooting
Stolen vehicle investigation leads to Perris chop shop – Seven arrested
UPDATE: Officials ID Hemet man after pursuit ends in four-vehicle wreck
Hanley Investment Group represented both the buyer and the seller. Hanley Investment Group’s Executive Vice President Matt Burnett represented the seller, a private investor based in Los Angeles, and President Ed Hanley represented the buyer, The Krausz Companies, Inc. in Irvine, California.
The two-story, 50,082-square-foot building, built in 2009, sits on 4.62 acres at the southwest corner of the signalized intersection of 4th Street and Waterman Avenue.
Waterman Avenue is one of the main trade area thoroughfares with more than 23,000 cars passing the site daily. More than 348,000 people live within five miles of the site and the Ontario International Airport (ONT) is just a seven-minute drive from the building.
Hanley Investment Group Real Estate Advisors announced today that the firm arranged the sale of a single-tenant building occupied by the County of San Bernardino. The sale price was $13,450,000. Monaghan Communications Inc. photo
“This was a very rare government secured lease, with no early cancellation provision,” said Burnett. “Hanley Investment Group procured a 1031 exchange buyer who understood the value of this property and its excellent fundamentals with a best-in-class tenant that is internet- and COVID-resistant.”
According to Burnett, “Need-based government services such as this offer stability in the face of growing online sales as well as potential economic instability.”
The County of San Bernardino has an AA credit rating from Standard & Poors (S&P) and an AAA credit rating from Fitch. The property had no deferred maintenance and is LEED-certified.
Burnett noted that the Inland Empire had the highest job growth rate in California and the highest home price growth in Southern California. The County of San Bernardino is home to more than 2.1 million residents with a 28% projected growth rate over the next 25 years.
Located within Southern California’s Inland Empire, the County of San Bernardino is the 14th most populous county in the United States and the largest in the country by area. It is comprised of 24 incorporated cities.
The county is led by a Board of Supervisors and Chief Executive Officer who are responsible for all areas of the county including education, environment, housing, image, infrastructure, jobs/economy, quality of life, public safety, water, and wellness for its residents.
Hanley Investment Group has sold 32 retail properties since COVID-19 was declared a pandemic.
LEADING THE SCNS NORTH STATE HEADLINES:
UPDATE: More details released after deadly boat sinking at Shasta Lake
Burney’s new Grocery Outlet just days from celebrating their Grand Opening
Guilty plea in shooting that injured Montgomery Creek man
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a boutique real estate brokerage and advisory services company with a $6+ billion transaction track record that specializes in the sale of retail properties nationwide.
Their expertise, proven track record, and unwavering dedication to putting clients’ needs first, sets them apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge.
Their nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property.
With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties. For more information, visit www.hanleyinvestment.com.
Submitted by Monaghan Communications Inc.
This article sponsored by:
For more information, contact Bill Tyler at Century 21 Full Realty Service.
Voted Best Independent Sandwich Shop in the Inland Empire by The Press-Enterprise readers choice. Centrally located on N Harvard St in the heart of Downtown Hemet, enjoy over 30 different sandwiches and premium salads. Our coffee is made from locally roasted, Organic Coffee Beans from Idyllwild Coffee Roasters. Come taste the difference that is Downtown Deli & Coffee Company. For more information, visit Downtown Deli & Coffee Co. on Facebook.
Contact the writer: [email protected]
Trevor Montgomery, 48, moved in 2017 to the Intermountain area of Shasta County from Riverside County and runs Riverside County News Source and Shasta County News Source. Additionally, he writes or has written for several other news organizations; including Riverside County based newspapers, Valley News, (the now defunct) Valley Chronicle, Anza Valley Outlook, and Hemet & San Jacinto Chronicle; as well as Bonsall/Fallbrook Village News in San Diego County and Mountain Echo in Shasta County.
Trevor spent 10 years in the U.S. Army as an Orthopedic Specialist before joining the Riverside County Sheriff’s Department in 1998. He was medically retired after losing his leg, breaking his back, and suffering both spinal cord and brain injuries in an off-duty accident. (Click here to see segment of Discovery Channel documentary of Trevor’s accident.)
During his time with the sheriff’s department, Trevor worked at several different stations; including Robert Presley Detention Center, Southwest Station in Temecula, Hemet/Valle Vista Station, Ben Clark Public Safety Training Center, and Lake Elsinore Station; along with other locations.
Trevor’s assignments included Corrections, Patrol, DUI Enforcement, Boat and Personal Water-Craft based Lake Patrol, Off-Road Vehicle Enforcement, Problem Oriented Policing Team, and Personnel/Background Investigations. He finished his career while working as a Sex Crimes and Child Abuse Investigator and was a court-designated expert in child abuse and child sex-related crimes.
Trevor has been married for more than 29 years and was a foster parent to more than 60 children over 13 years. He is now an adoptive parent and his “fluid family” includes 13 children and 16 grandchildren.