The joint venture (JV) between U.S. commercial real estate investor Harbor Associates and investment firm Taconic Capital Advisors has purchased a five-building commercial office portfolio in San Bernardino, California (CA).
The joint venture acquired the office portfolio, totalling 368,000 square feet, for a total price of $41.7 million in an off-market transaction.
The assets are located in the Tri City Corporate Center, a 153-acre master-planned mixed-use office park with one million square feet of commercial office and 390,000 square feet of retail space.
More so, the acquired properties, ranging in size from 70,000 to 115,000 square feet, are collectively 55 percent leased to 28 different tenants.