Close of Escrow: Redlands Shopping Center in Redlands, CA

SIG is pleased to announce the closing of Redlands Shopping Center in Redlands, California.

Investment Highlights Include:

  • Three Tenant Retail Center – Located in the Inland Empire Area of Redlands, One of the Highest Projected Housing and Job Growth Areas of Southern California
  • Long Term Occupancy History – Two of the Three Tenants Have Occupied the Property for Over 10 Years Proving Their Long Term Commitment to a New Investor
  • National and Regional Tenant Mix – T-Mobile, The Wok Experience, and Silver Spoon Collectively Occupy 100% of the GLA of the Center
  • Low Rents Creating Long Term Value for Growth – Current In-Place Rents Average Only $2.05 PSF / MO, Which is Roughly 10% Below the Estimated Market Rent
  • Significant Growing Income Stream – Two of the Three Tenants Call for 3% Annual Rent Increases, with the Other Tenant Calling for a Minimum of 5% Increase (Based on CPI) Every 2.5 Years
  • Strategically Located 0.5 Miles South of Interstate 10, the Subject Property is 61 Miles East of Downtown Los Angeles and 46 miles Northwest of Palm Springs

Closing Price: $2,270,000
Closing CAP: 5.45%

Listing Agents:  Andy Chana and Dan Hoogesteger 

For More Information Contact:

Andy Chana
Lic #01896459
310.853.1316
andy@SIGnnn.com