Arrowhead Springs

By Jim Steinberg, The Sun
Posted: 04/20/14, 6:02 PM PDT |

SAN BERNARDINO >> In its heyday, the Arrowhead Springs Hotel hosted such celebrities as Spencer Tracy, Lucille Ball, Clark Gable and Humphrey Bogart.

It was the honeymoon choice of Elizabeth Taylor and Nicky Hilton.

Now, the religious organization that owns it is in a full-court press to sell it before the end of the year.

“The sale would be just a huge economic boost,” said Councilman Fred Shorett. “It wouldn’t be just the jobs for development. If the new owner does a hotel, there would be many permanent new jobs.”

Development of the site would “certainly be a feather in our cap,” Shorett said.

The 1,900-acre site has been vacant since the Campus Crusade for Christ, which has owned it since 1962, moved to Orlando, Fla., in the 1990s.

Campus Crusade, now known as Cru, is seeking $60 million for the property and wants to complete the sale this year, said Mark Tjernagel, chief financial officer.

While the property, which is zoned for 1,350 residential units and 800,000 square feet of commercial buildings, as well as a hotel, has never been off the market since the religious organization vacated, “there has never been a full-blown marketing campaign for its sale,” said Thomas Turley, managing director at JLL, a Chicago-based real estate concern that has been involved with the property for nearly a decade in a consulting and sales capacity.

The ultimate buyer of the property will be a developer “who will have vision for the creative opportunity of the site, which has a lot of moving pieces,” said Turley, who works out of JLL’s El Segundo offices.

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