San Bernardino restaurant property sold

A San Bernardino parcel occupied by a Panera Bread has been sold for $6.8 million.

The restaurant built in 2004 at 4268 N. Varsity Ave., covers nearly 4,000 square feet on 1.39 acres and has a 15-year lease attached to it, according to Dallas-based SRS Real Estate Partners.

Buyer and seller were not identified.

The all-cash sale is the second part of a break-up strategy conducted by SRS on behalf of Paragon Commercial Group. The first was the sale of a Dutch Bros. coffee property at 4236 N. Varsity Ave. that was sold in July for $2.7 million.

Both properties are near national retailers, including McDonald’s, Starbucks, and the University Town Center. More than 259,000 people live within a five-mile radius of both properties, according to according to SRS.

This year, SRS Capital Markets has completed more than $2.2 billion in deal volume comprised of more than 650 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion.