Cobb Investments Acquires Retail Property In Inland Empire For $17.65M
8679 Baseline Road, Wawaka, Indiana, USA
$17,650,000
$177/SF
Building Size
99,424 SF
Asset Type
Retail
Closing
Jul 2, 2019
AI
A smart & Final anchored shopping center located in the West San Bernardino trade area has been sold for $17,650,000. The property, situated at 8601-8679 Baseline Road in the Inland Empire market, spans 99,424 square feet. With a price per square foot of $177.52, this retail asset was on the market for the first time in over 50 years. The transaction took place on July 3, 2019.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $17,650,000
- Address: 8601-8679 Baseline Road
- Market: Inland Empire
- Square Footage: 99,424 SF
- Price per Square Foot: $177.52
The buyer of this retail property is Cobb Investments, while the seller is Bandy Shryer TIC. The deal was facilitated by broker Pablo Rodriguez.
It is worth noting that the shopping center is anchored by Smart & Final and is located in the West San Bernardino trade area.
Players
Wawaka Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.90%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93