Investment Properties Fetch $5M

SAN BERNARDINO, CA- Carter Commercial LLC has acquired the Waterman Medical Building at 2150 N. Waterman Ave. for nearly $3.7 million in one of two recently closed investment deals in the Inland Empire, according to Sperry Van Ness.

Jon Sorokowski of Sperry Van Ness says the buyer of the Waterman building recently sold a medical office building in Santa Barbara and wanted to exchange into something that provided a higher return. The Waterman property fit the bill and is in a prime location across from the St. Bernardine Medical Center, says Sorokowski, who represented the seller, San Bernardino RE LLC. The buyer was represented by Kevin Carter of Carter Commercial.

Built in 1989, of block and steel frame, the Waterman Medical Building is 97% occupied.

In the other transaction, a private individual acquired a single-tenant, 6,500-sf KinderCare facility at 960 West Bloomington Ave. in Rialto for $1.2 million. Brad Umansky of Sperry Van Ness in Ontario represented the seller, Empire Commercial Real Estate, with Dee Muller Sampson of Lee & Associates representing the buyer. Umansky says the buyer was attracted to the property because it was a triple net, single-tenant building. It was completed in 1988 and is occupied by KinderCare, a leading private provider of early childhood care and education.