Dermody Properties Acquires 250K SF Warehouse In San Bernardino For $65.8M

Dermody Properties, led by Michael C. Dermody, has acquired a 250,111-square-foot warehouse located at 5685 Industrial Parkway in San Bernardino, California. The industrial property was purchased from AND Asset Management for a total sale price of $65.8 million. Situated on approximately 12 acres of land, this warehouse property presents a prime investment opportunity in the highly active San Bernardino market.

Summary of Transaction Details:

• Property Type: Industrial
• Sale Price: $65,800,000
• Square Footage: 250,111
• Price Per Square Foot: $263
• Address: 5685 Industrial Parkway, San Bernardino
• Market: San Bernardino

The purchase of this warehouse in San Bernardino adds to Dermody Properties' portfolio of industrial assets. As the foremost active market for industrial investment sales in the US, the Inland Empire region, which encompasses San Bernardino, recorded nearly $1.7 billion in sales during the first four months of 2023. Dermody Properties' acquisition demonstrates their commitment to capitalizing on the lucrative industrial investment opportunities present in this thriving market.