Another shopping center has been placed up for sale in the Inland Empire. The property, known as Tri-City Shopping Center, is up for sale in San Bernardino with a $24.8 million asking price, or approximately $163 per square foot, according to marketing information from JLL, which has the listing.
The 151,709 square foot shopping center is located at 835-891 E. Harriman Place on nearly 13 acres. Property records show that the shopping center is currently owned by Unilev Capital, a Beverly Hills-based investment and management firm.
Tri-City Shopping Center is fully occupied, with 24 Hour Fitness and Curacao serving as the property’s largest tenants. Other tenants include Pollo Campero, Poke Bar, Barber, Cantos Jewelers and Pet World. Overall, the property has an average weighted lease term of 5.3 years, and most tenants have occupied the center since 2005 or earlier.
The property is located adjacent to Interstate 10, which sees, on average 200,000 vehicles per day, according to JLL. Nearby are various other retailers, including Sam’s Club, Costco and Home Depot. 253,000 people also live within a five-mile radius of the property, with an average household income of $70,654 per year.
“San Bernardino is the retail hub of the North Eastern Inland Empire serving the cities of San Bernardino, Rialto, Redlands, Yucaipa, Loma Linda, Grand Terrace and more. Between Curacao, ALDI, Sam’s Club, and Costco, this retail corridor attracts over six million visitors each year,” the listing states.
