Lee & Associates Closes $6.25 Million Mixed-Use Business Park Sales Transaction

The suites are built out with Class A finishes and are currently ready for occupancy
1020 & 1050 Nevada Street in Redlands, Calif.
1020 & 1050 Nevada Street in Redlands, Calif.
Jan. 13, 2011 - PRLog -- Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a $6.25 million sales transaction for a 70,377-square-foot mixed-use business park and 4.59 acres of adjacent vacant land located at 1020 to 1050 Nevada Street in Redlands, Calif.

Herrick Johnson and Rich Erickson, both senior vice presidents of Lee & Associates - Riverside represented the seller, MKJ-McCalla Investments, LLC.  Mark Stanson of SD Stanson Company represented the buyer, Fainbarg Family Trust who has plans to lease the property out.

The transaction took about 60 days to put in escrow and another 30 to close thereafter. According to Mr. Erickson the buyer was out looking for opportunities and that is what prompted negotiations. “The high quality of the project was ideal and greatly appealed to the buyer,” he said. “The suites are built out with Class A finishes and are currently ready for occupancy.”

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About Lee & Associates
Celebrating 31 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 41 locations across the nation including California, Arizona, Georgia, Idaho, Illinois, Indiana, Michigan, Missouri, New Jersey, Nevada, Texas and Wisconsin. With a roster of more than 600 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.
Source:The Hoyt Organization
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Tags:Lee & Associates, Real Estate, Redlands, Riverside, Business Park
Industry:Real Estate
Location:Torrance - California - United States
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