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SAN BERNARDINO, CA-The buyer of the 93,129-square-foot West Side Plaza at 1554-1594 W. Base Line St. has acquired the shopping center for $10.95 million at a 9.25% cap rate based on projected 2011 NOI, closing in five days in an all-cash transaction. Broker Orbell Ovaness, who represented the Long Beach-based buyer along with his associate Artin Sepanian, tells GlobeSt.com that the new owner plans to develop 13,500 square feet of additional space at the center that is fully entitled.


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