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REDLANDS, CA-The Irvine-based Sares-Regis Group has sold a 983,986-sf warehouse at Redlands Business Center to USAA Real Estate Co. of San Antonio, TX, for $36 million, according to a Sares-Regis announcement.

Sares-Regis acquired the 46-acre site last year in this Inland Empire community and developed the 46-acre facility as a build-to-suit for Salton Inc. of Lake Forest, IL. The Salton facility is part of the 250-acre master-planned Redlands Business Center, which is under development near the I-10 Freeway between Mountain View and California streets.

Salton, a national consumer appliance retail and online distributor, signed a 10-year lease and took occupancy in July, says Larry Lukanish, VP of Sares-Regis Group’s Commercial Investment Division.

The sale to USAA was brokered by CB Richard Ellis brokers Darla Longo in the Ontario office of CBRE and Gary Stache in the Newport Beach office of the real estate services firm, who represented both parties in the transaction.

Tenant Salton distributes a line of hundreds of consumer appliances, including its cornerstone product, the George Foreman Grill, to retailers and online. Salton’s annual sales total slightly less than $1 billion annually and shares of the company are traded on the New York Stock Exchange.

Sares-Regis Group is a diversified developers and manager of residential and commercial real estate in the Western United States.The company has acquired or developed approximately 34 million sf of commercial properties and 18,000 housing units since its inception. It has more than 3.5 million sf feet under commercial development, and it manages more than 12,000 apartment units and 14 million sf of commercial real estate.

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