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750 E Central Ave, San Bern...

Updated Oct 29, 2024

750 E Central Ave
SOLDIndustrial

750 E Central Ave

750 E Central Ave, San Bernardino, C...

$21,100,000

Building Size

—

Asset Type

Industrial

Closing

Nov 19, 2023

About this deal

AI

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.

On the Map

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$21,100,000

Industrial

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Players

Chris Rhinesmith

Compass

Broker

$101.3M

vol

11 deals

Broker
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San Bernardino Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.75%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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