Newman International Acquires Property From Robhana Group In San Bernardino For $20M

Newman International has acquired Seley Plaza, a neighborhood shopping center located at 2002 E Highland Ave, San Bernardino. The property was sold for $20 million, with a total square footage of 159,324. The property was 91 percent occupied at the time of sale, featuring 21 tenants including 99 Cents Only, Rite Aid Pharmacy, Big 5 Sporting Goods, Dollar Tree, Chase Bank, Rent-A-Center, Western Dental, Del Taco, and Goodyear Tire.

Summary of transaction details:

• Property Type: Shopping Center
• Transaction Amount: $20,000,000.00
• Address: 2002 E Highland Ave, San Bernardino
• Market: San Bernardino
• Buyer's Representative: Max Wang, John Griffin - Cushman & Wakefield
• Seller's Representatives: Charley Simpson - Colliers International, Dixie Walker - Cushman & Wakefield
• Buyer: Newman International
• Seller: Robhana Group
• Square Footage: 159,324

The property was sold by a joint venture comprising Robhana Group and SAFCO Capital Corp. The sale reflects the ongoing investment interest in the San Bernardino area, as demonstrated by the presence of multiple established tenants within the shopping center.