April 18, 2019
Philadelphia-based Exeter Property Group paid $97.75 million for an industrial building in San Bernardino, CA that is fully-leased to Bob’s Discount Furniture. The 806,322-square-foot Class A distribution building is situated on roughly 41 acres at 6227 Cajon Blvd.
JLL’s Bo Mills, Mark Detmer and Ryan Sitov, along with Scott Schwartz of Insignia PMG, represented the unnamed East Coast-based seller.
Detmer says, “This listing represented the opportunity for an investor to acquire a building with a long-term lease to a strong tenant in the largest industrial market in the world. The buyer was attracted to the stability of the property, tenant’s commitment to the area and potential for future development growth.”
The facility offers immediate access to I-15, I-215 and CA-210, as well as proximity to the BNSF Intermodal Yard, FedEx Ground Rialto, UPS Air Hub and Ontario International Airport.
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