July 8, 2020
Hanley Investment Group Real Estate Advisors completed the $13,450,000 sale of a single-tenant office building occupied by the County of San Bernardino in San Bernardino. The buyer of the asset at 265 East 4th St. was Irvine-based The Krausz Companies.
Hanley’s Ed Hanley represented the buyer. The seller was an unnamed private investor based in Los Angeles that was represented by Hanley’s Matt Burnett.
“This was a very rare government secured lease, with no early cancellation provision,” said Burnett. “Hanley Investment Group procured a 1031 exchange buyer who understood the value of this property and its excellent fundamentals with a best-in-class tenant that is internet- and COVID-resistant.”
The two-story, 50,082-square-foot building was built in 2009 and sits on 4.62 acres at the signalized intersection of 4th Street and Waterman Avenue. The property had no deferred maintenance and is LEED certified.
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