Avison Young brokers $21.15 million sale of a 156,937-sf industrial business park in San Bernardino, CA

Avison Young brokers $21.15 million sale of a 156,937-sf industrial business park in San Bernardino, CA October 18, 2021

Irvine, CA – Avison Young announced today it has brokered the $21.15 million sale of Gifford Business Park, a multi-tenant, 156,937 square-foot industrial property located at 750-760 E. Central Ave. and 765-791 S. Gifford Ave. in San Bernardino, CA.

Avison Young Principal Alan Pekarcik, who is based in the firm’s Irvine office along with Chris Smith represented the buyer, a private investor from Southern California. The buyer purchased the asset as an upleg in a 1031 exchange. The seller was Phoenix-based Gifford Business Park, LLC.

Built in 1989, the seven-building property is situated on approximately 11.5 acres of land. At the close of escrow, it was 95% occupied by approximately 35 tenants.

This property is a perfect complement to the buyer’s portfolio,” said Pekarcik. “The buyer plans on making some upgrades to the asset over the coming months.”

Smith noted that Inland Empire-based multitenant business parks remain one of the most desired assets in today’s market given the low vacancy rates and rising rents.

The property is located near the 10 and 215 freeways as well as the San Bernardino International Airport and surrounded by institutional-grade industrial buildings with newer construction.

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2021 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.




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  • Alan Pekarcik ([email protected]), Principal | Capital Markets Group, Irvine, CA: +1 949.757.1595