750 E Central Ave

The asset involved in this transaction is Gifford Business Park, a multi-tenant industrial property located at 750 E Central Ave, San Bernardino, CA. The property was sold for $21,100,000.00 and comprises of 156,937 square feet of industrial space across seven buildings on 11.5 acres. At the time of sale, the property was 95 percent occupied by 35 tenants.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $21,100,000.00
• Address: 750 E Central Ave, San Bernardino, CA
• Market: San Bernardino
• Square Footage: 156,937 SF
• Year Built: 1989
• Acreage: 11.5 acres
• Occupancy Rate: 95 percent
• Number of Tenants: 35
• Buyer's Representative: Chris Rhinesmith - Compass
• Buyer: Private Investor
• Seller: Gifford Business Park LLC

The transaction was facilitated by Avison Young, with Alan Pekarcik and Chris Smith representing the buyer. The property’s strategic location and occupancy level likely contributed to its acquisition by the Southern California-based private investor from the Phoenix-based seller.