San Bernardino, California – We have NNN Commercial Real Estate news from Southern California (SoCal) this afternoon. The current hot sector for commercial real estate remains to be the Industrial Property sector. A Joint Venture (JV) was formed to acquire the Interchange Business Center, in San Bernardino County. The Interchange Business Center is a high-quality California industrial development consisting of four buildings.
This joint venture was between Behringer Harvard Opportunity REIT II and CT Realty Investors. This is Behringer Harvard Opportunity REIT’s II third joint venture with CT Realty Investors. CT Realty Investors is a commercial real estate investment and development firm based in Aliso Viejo, California. Last year in 2010, the joint venture of Behringer Harvard Opportunity REIT and CT Realty Investors purchased the Industrial Property, Archibald Business Center in Ontario, California. This Industrial Commercial Real Estate development was purchased for $30 million.
The commercial real estate development, Interchange Business Center, totals over 800,000 square feet of industrial warehouse – distribution space. The commercial real estate development is situated on a large 41-acre land parcel in San Bernardino, California. This eastern portion of greater Los Angeles is known as Inland Empire where this commercial real estate development sits. The Inland Empire also known as the (I.E.), is a major metropolitan area. This area is very suitable with choices for a 1031 Exchange. The Inland Empire area is centered around the cities of Riverside and San Bernardino in Southern California. As a metropolitan area, Inland Empire, is the third largest in the state of California, and is the fifth largest in the state.
Investment Strategy for Commercial Properties
Behringer Harvard brings a successful investment strategy to investors a range of strategic investment opportunities. Behringer Harvard performs through their commercial real estate investment programs. They have extensive wealth-building power in commercial real estate to help institutions and the wealthiest individuals succeed in investing. Behringer Harvard is experienced at structuring a range of investment programs with NNN Commercial Real Estate. Their acquisition strategy focuses on commercial properties which are located in dynamic, geographically diverse markets.
The commercial real estate development, Interchange Business Center is a value-added property as the net leases can be increased dramatically. Also the large parcel of Land may be further developed and the four buildings may be added to. The commercial property is currently 29% net leased to two logistics and warehousing tenants. The Industrial net lease property Tenants are FTDI Supply Chain Management and Genco. The Industrial net lease property was built in 2007.
San Bernardino California Property
Behringer Harvard Opportunity REIT II, Inc. owns this commercial real estate development with the address of 1651 Interchange Drive, 3454 Mike Daley Drive, 3372 Mike Daley Drive, and 3524 Mike Daley Drive in San Bernardino, California. The commercial real estate development has the 92407 zip code. The Industrial Commercial Real Estate development has an excellent quality of construction.
The commercial real estate development, Interchange Business Center is strategically located in the Inland Empire, the trade gateway of Southern California. The commercial real estate development is about five miles north of the BNSF Intermodal Facility which transports warehouse goods to and from the busiest ports of Long Beach and Los Angeles. The commercial real estate development has convenient access to the I-215 and the newly completed I-210 freeways. This I-210 freeway leads directly to the I-15, I-10 and State Route 60 freeways. These major transportation highways are the most important for catering to Southern California.
Industrial Commercial Real Estate Development
The Industrial Commercial Real Estate development is also situated 5 minutes from Roadway and Yellow Freight hubs. The commercial property has easy access to retail shopping centers, net lease properties and commercial services. Some of the neighboring industrial net leased tenants consists of General Foam Plastics, JSP International, MAPEI International, McLane Company, San Bernardino Steel, The Sun Newspaper and Wells Fargo Home Mortgage.
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