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Hanley Investment Group is arranging the sale of Highland Avenue Mall in San Bernardino, California for $10 million

SAN BERNARDINO, Calif. – Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in the sale of commercial properties, today announced that the company has arranged the sale of World Plaza, a multi – tenant of a 55,810 square foot commercial building located on Highland Avenue in San Bernardino in the Inland Empire region of Southern California. The selling price was $10 million.

Hanley Investment Group Executive Vice President Matt Burnett represented the seller, Presidio Property Trust, Inc., a diversified, internally managed real estate investment trust. The buyer, a private investor based in the Los Angeles area, was represented by Brian Heron of Commercial Retail Associates of Modesto, California.

“We generated several competitive offers and recruited a Los Angeles-based private buyer familiar with both the Inland Empire market and the health club industry,” Burnett said. “The property, which was remodeled in 2018 to accommodate a new 36,000 square foot Chuze Fitness, was 100% leased with 90% of the property occupied by credit tenants.”

The mall is located at 1535 E. Highland Ave., at the corner of Highland and Del Rosa avenues, a strategic intersection in the heart of San Bernardino, with more than 45,000 cars per day. Highland Avenue is the commercial area’s main thoroughfare with access to nearby Interstate 210.

The seven-tenant multi-tenant retail property includes Chuze Fitness, Citizen’s Bank, Mother’s Nutrition, San Bernardino County, Five Keys School, a dental practice and Inland Empire Pharmacy.

“The sale of the Highland Avenue Mall, a gym-anchored asset in the heart of the Inland Empire, illustrates the strong rebound in the investment market from the COVID-19 pandemic,” Burnett said.

Hanley Investment Group has sold 102 commercial properties in the Inland Empire worth $550 million in the past 48 months.

About Hanley Investment Group

Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with a $9 billion transaction history that specializes in the sale of commercial properties nationwide. Our expertise, proven track record and unwavering dedication to putting customer needs first sets us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers and 1031 exchange buyers are unparalleled in the industry, resulting in maximum exposure and price for every property. With unparalleled service, Hanley Investment Group has redefined the retail investment property experience. For more information, visit www.hanleyinvestment.com.

Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact person: Matt Burnett, Executive Vice President
E-mail: Send an email
Call: 949.585.7623
Address:3500 E. Coast Highway, Suite 100
City: Crown of the Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/