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Redlands Boulevard San Bern...

Chase Partners Ltd. Sells Development Site In San Bernardino For $3.03 Million
SOLDDevelopment Site

Chase Partners Ltd. Sells Development Site In San Bernardino For $3.03 Million

$3,030,000

Building Size

Asset Type

Development Site

Closing

Mar 2, 2026

AI

The transaction involved a development site located at the intersection of Redlands Boulevard and Hunts Lane in the San Bernardino market. The sale price for this asset was $3,030,000, structured as a pre-sale of a new single-tenant 7-Eleven commercial fueling lanes prototype, under a 15-year absolute triple-net ground lease. It is noted as the first of its kind in California.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $3,030,000
  • Seller: David Parker - Chase Partners Ltd.
  • Buyer's Representative: Jonathan Selznick - Lee & Associates
  • Seller's Representatives: Bill Asher & Jeff Lefko - Hanley Investment Group
  • Closing Date: 03/02/2026
  • Lease Structure: 15-year absolute triple-net ground lease
  • Market: San Bernardino

Hanley Investment Group Real Estate Advisors facilitated the transaction, with Bill Asher and Jeff Lefko representing the seller, Chase Partners Ltd., while Jonathan Selznick represented the private buyer from Orange County. The deal concluded 5.5 months prior to the commencement of rent for 7-Eleven.

Players

Bill Asher

Hanley Investment Group

Broker

$653.6M

vol

90 deals

Broker
David Parker

David Parker

Chase Partners Ltd.

Seller

$10.2M

vol

2 deals

Seller

Market Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.24%

Cash-on-Cash

-1.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93