Exeter Property Group has closed on the latest big industrial sale in Inland Empire, an area that has led the way in that space nationwide.
The firm paid $97.8 million for the San Bernardino property, which includes an 806,300-square-foot building fully leased to Bob’s Discount Furniture. The seller was Massachusetts-based Waterstone Properties, represented by JLL and Insignia PMG.
The property is located at 6227 Cajon Boulevard and has access to the BNSF Intermodal Yard, FedEx Ground Rialto, UPS Air Hub and Ontario International Airport.
Ten-X Commercial predicted last year that rents in Inland Empire will increase by 6.5 percent through 2022, and that vacancies would jump to 9.5 percent in the same time.