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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).