Group of four single-tenant properties sell for $7 million

Progressive Real Estate Partners recently announced the sale of four adjacent, single tenant properties for $7 million.

The properties, located at 2505-2575 Highland Avenue in San Bernardino, are all leased and tenants include IHOP, Wienerschnitzel, Taco Bell and a 76 Gas Station.  The sale also included approximately 1.5 acres of land ready for future development.

Progressive Real Estate Partners’ Investment Sales Advisors Lance Mordachini and Trinnie Lee exclusively marketed the listing and represented the Los Angeles County based seller. Kevin Kwan with Realiv represented the San Bernardino County based buyer.

“The opportunity to acquire quality real estate in a freeway adjacent location with established national brands was very attractive to the buyer,” said Mordachini in a statement from Progressive. “Furthermore, the portfolio features the income diversity of a multi-tenant asset while providing the ease of management typically associated with single tenant net leased assets.”

All four properties are next to the I-210 Freeway and are visible to more than 100,000 vehicles on typical day. They also share a freeway exit with the Yaamava Resort & Casino and the San Bernardino Soccer Complex.