California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Gym-Anchored San Bernardino Center Fetches $24M
JLL Capital Markets closed the $24.325-million sale of Tri-City Center, a 151,709-square-foot shopping center in San Bernardino. JLL represented the seller, Unilev Capital. DPI Retail acquired the asset.
Built in 1987, the 100%-occupied center is anchored by a 24-Hour Fitness and Curacao, and additional tenants include Pollo Campero, Poke Bar, Barber, Cantos Jewelers and Pet World. More than 70% of the GLA is occupied by tenants that have operated at Tri-City Center since 2005 or earlier. The property is also adjacent to the Tri-City Corporate Center, one of the largest office complexes in the trade area.
The JLL Retail Capital Markets team that represented the seller was led by managing director Bryan Ley and senior director Tim Kuruzar.
“Tri-City Center was a great sale that demonstrated not only the strong demand from private and high net worth investors for well-located retail real estate today but also the strength of gym-anchored properties with regional tenancy as major traffic draws,” said Ley.
- ◦Sale/Acquisition
