Red Mountain Group Inc. Buys Commercial Property In San Bernardino For $8.2M

The property involved in this transaction is a commercial building located at 1857 S. Tippecanoe Ave, San Bernardino, CA. The selling price of the asset is $8,199,999.00 and the size of the property is 4,086 square feet. The asset was built in 2017 and sits on 1.2 acres, with a tenant, Raising Cane’s Chicken Fingers, having more than 11 years remaining on its absolute triple-net lease.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $8,199,999.00
• Address: 1857 S. Tippecanoe Ave, San Bernardino, CA
• Market: San Bernardino
• Property Size: 4,086 SF
• Seller: Private Investor
• Buyer: Red Mountain Group Inc.
• Seller's Representative: Matthew Mousavi - SRS Real Estate Partners

Matthew Mousavi and Patrick Luther of SRS’s National Net Lease Group represented the seller, while Jim Casale of Lee & Associates represented the buyer in this deal. According to SRS Real Estate, this transaction marks the highest price point for a Raising Cane’s property sold on a national basis.