Chief of Administration's Message
November 2006
SEBA Prepares to Relocate
In September the SEBA Board of Directors approved plans for a new office located at 735 E. Carnegie Drive in the Hospitality Lane District of San Bernardino.
The new 5500 square foot office suite will be located in a newly constructed two-story building recently completed. Because the building is new, SEBA is able to design and configure the space to better serve the logistical needs of the operation. At press time design plans are being submitted for city approval.
Concurrently, with the approval of the new office lease, the SEBA Board of Directors approved the sale of our present location. The current office building located in Downtown San Bernardino at 555 North E Street, will be sold and all proceeds will transfer to the Association General Account. SEBA purchased its current building in 1991 and has occupied the location since that time. Problems with vagrants, vandalism, age of the property, and the general deterioration in the downtown area were primary factors in the decision to relocate.
The Association favorably executed a full service ten-year lease for the location, which includes costs for all utilities and expenses, excluding telephone service. The property is owned buy Rancon Realty Fund V, a real estate investment trust.
The Association should realize an operating savings as a result of the move, once the current location is sold.
The tentative date for the move to the new location is February 1, 2007.
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