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Avison Young announces $2.25 million acquisition of commercial building in downtown San Bernardino, CA

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Avison Young announced today that it has completed the $2.25 million acquisition of a vacant, 18,275-square-foot (sf) commercial building located at 599 North E Street in the heart of the downtown civic center area of San Bernardino, CA. The property will be used as the headquarters and primary store for Thinkwise Credit Union (CU), a financial organization with membership open to educational employees and immediate family members, of San Bernardino, Orange and Riverside counties including colleges, universities, school districts, parochial, and charter schools.

Avison Young Principal Hayden Eaves along with Kristen Sullivan and Matt Spear who are all based out of the firm’s downtown Los Angeles office, represented the buyer, Thinkwise CU. The seller was a private investor from Orange County.

Built in 1986, the two-story, Tudor style building is situated on 1.56 acres and includes a large break room with full kitchen setup, an elevator, and new LED lighting, among other features. Thinkwise CU will be relocating 19 employees from its current 6,500-sf headquarters on Sierra Way in San Bernardino. Once upgrades to the new space are made, move-in is anticipated by year-end.

“Thinkwise CU is a very community-minded organization with a passion for our members’ financial well-being and the communities in which we serve,” said Thinkwise CU’s President and CEO, Heri “Eddie” Garcia. “This new location is ideal as it is in a great location near our core membership. It also gives us a significantly larger headquarters space as well as a branch office. Additionally, we are excited about building out a 3,800-sf community room to be used for our credit union events and local groups and organizations.”

As further testimony to its ideal location for its customers, the property is situated across the street from the San Bernardino County Schools Superintendent’s office and is just two blocks away from San Bernardino County Unified School District offices.

“In addition to its prime location, this asset was formerly used as a bank building and includes a vault and working safe deposit boxes along with other key improvements, making this a great fit,” said Eaves. “I am pleased that I have been a part of helping to make Thinkwise CU’s vision a reality over the years. This expansion solidifies its commitment to the people it serves and helps streamline its operations to maximize efficiencies.”

Adding to this latest expansion news, Thinkwise CU is opening a newly constructed, Class A, 3,000-sf branch in May 2020 at Renaissance Marketplace, located directly off the 10 freeway in Rialto. Thinkwise CU identified this market as underserved for credit unions and therefore an ideal place to offer a new branch. Avison Young’s Eaves also handled the acquisition of this site on behalf of Thinkwise CU.

 

About Thinkwise Credit Union

Originally established in 1952 to serve San Bernardino school employees, Thinkwise prides itself on its cooperative nature, devotion to the democratic process, and its desire to give back to members and community. The credit union’s membership is open to employees, and immediate family members, of San Bernardino, Orange or Riverside counties including colleges, universities, school districts, parochial, and charter schools. Thinkwise CU focuses on individualized services, providing a safe source of credit and accumulating savings, and doing so in a manner to preserve trust.

Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 108 offices in 14 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.

Avison Young is a 2019 winner of the Canada’s Best Managed Companies Platinum Club designation, having retained its Best Managed designation for eight consecutive years.

The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering San Bernardino & Riverside Counties.

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Stater Bros. Charities and Reyes Coca-Cola Bottling Give Back to Military Families

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Stater Bros. Charities, the philanthropic arm of Stater Bros. Markets, partnered with Reyes Coca-Cola Bottling again this year for their Give Back program during National Military Appreciation Month. The program ran for the entire month of May, during which Reyes Coca-Cola Bottling committed to donating $0.25 per eligible product purchased to the Bob Hope USO. Reyes Coca-Cola Bottling donated $15,000, and Stater Bros. Charities matched their donation for a total contribution of $30,000.

A check presentation occurred during a K-EARTH 101 radiothon benefiting the Bob Hope USO. The radiothon took place at the Bob Hope USO at LAX (Los Angeles International Airport) on June 29, 2023, where Stater Bros. Charities and Reyes Coca-Cola Bottling presented Bob Hope USO with a $30,000 check.

Bob Hope USO’s mission is to strengthen America’s military service members by keeping them connected to family, home and country, throughout their service to the nation. The Give Back program is a unique opportunity to show gratitude and support to the brave men and women who risk their lives for our freedoms and to care for their families while they are away from home on deployment.

“Stater Bros. Markets has a long history of supporting veterans, service members, and their families,” said Danielle Oehlman, Director, Stater Bros. Charities. “We are so pleased to partner with our friends at Reyes Coca-Cola Bottling and the USO to give back to those who have given so much for us.”

Lorin Stewart, President, USO West Region, said, “We are deeply grateful to Stater Bros. Charities and Reyes Coca-Cola Bottling for being sustaining partners of the USO. The Give Back program embodies the essence of the USO mission by enabling the community at large to come together to support and give thanks to our armed forces and their brave military families in an impactful way.”

Funds will support the Bob Hope USO and USO San Diego Center operations, including programs and services that strengthen the social, mental, physical, and emotional well-being of local military service members, their families, and their communities.

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BDK Logistics Intelligence Fully Leases 114,190 SF Industrial Facility in Corona, CA

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Cushman & Wakefield represents landlord in lease in SoCal’s Inland Empire

Cushman & Wakefield announced that BDK Logistics Intelligence, Inc. has signed a lease for an entire 114,190-square-foot industrial facility at 1161 Olympic Drive in Corona, California. Situated in Southern California’s renowned Inland Empire, the building is owned by Monterey Rancho Mirage, LLC, which was represented by Brett Lockwood and Rick Ellison of Cushman & Wakefield in the transaction.

“We are pleased to welcome BDK to the property as a quality industrial tenant that is expanding its presence in the market, which it also currently occupies multiple warehouse facilities,” said Director Brett Lockwood. “Our client was instrumental in helping this deal transact as there were many variables that needed to be navigated which led to this lease coming together quickly and successfully.”

1161 Olympic Drive is a quality freestanding building situated on ±4.8 acres and features 20 dock high loading doors. The property is conveniently located off Interstate 15 near the confluence of SR 91 and is proximate to the extensive freeway network traversing the entire Greater Los Angeles region and into other major markets in and out of state.

According to Cushman & Wakefield’s latest Q2-2023 quarterly report, the Inland Empire industrial market posted an overall vacancy of 3.4% and has recorded more than 2.7 million square feet of positive net absorption through the first half of 2023.

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Hernandez resigns as County CEO; Snoke will continue filling in pending Board action

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Leonard X. Hernandez resigned from the post of County Chief Executive Officer effective today. County Chief Operating Officer Luther Snoke has been filling in for Hernandez while Hernandez has been on leave and will continue to do so. The Board of Supervisors will act to appoint an interim or permanent CEO shortly.

“The Board of Supervisors appreciates the service Leonard provided to the public and the County organization, especially as we navigated our way through the pandemic and other very difficult challenges,” said Board of Supervisors Chair Dawn Rowe.

Hernandez provided the following statement:

“It has been an extreme privilege to serve as the Chief Executive Officer of San Bernardino County. I am thankful to the Board of Supervisors for their leadership and the hard-working men and women who do amazing work every day. Due to an urgent family health issue that requires my immediate and undivided attention, I have informed the Board of my resignation. Under the strong leadership of the Board of Supervisors and the County’s executive team, the County will continue doing great things for the residents of San Bernardino County.”

“The Board of Supervisors is committed to a seamless transition in staff leadership with no interruption in County services or impact on County residents or employees,” Rowe said. “Luther has performed well filling in for Leonard and I am confident in his ability to continue serving in this role until the Board takes action.”

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