Hanley Investment Brokers Sale of Inland Empire Office Building
Executive Vice President Matt Burnett represented the seller and President Ed Hanley assisted the buyer, The Krausz Cos.
265 E. 4th St. Image courtesy of Hanley Investment
Hanley Investment Group has arranged the sale of a 50,082-square-foot, single-tenant office building in San Bernardino, Calif. Executive Vice President Matt Burnett represented the seller, a private investor and President Ed Hanley assisted the buyer, The Krausz Cos. The asset traded for $13.4 million in a 1031 exchange transaction. According to Yardi Matrix, the sale was subject to a $7.3 million loan, provided by Alliant Credit Union.
The two-story, LEED-certified property was built in 2009 and is occupied by county authorities. Located on a roughly 5-acre site at 265 E. 4th St. the building is within 2 miles of Interstate 215 and the San Bernardino International Airport. More than 348,000 people live within 5 miles of the site, according to a statement by Hanley Investment. The property is also located within an Opportunity Zone.
In May, Burnett brokered the $4 million sale of a two-tenant retail property in Ontario, Calif. The asset changed hands at a 5.4 percent cap rate.
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