Harbor Expands Southern California Footprint

The company formed a joint venture with Taconic Capital Advisors to purchase a five-building office portfolio in the Inland Empire.
Two Carnegie Plaza. Image courtesy of CBRE

After the acquisition of Topaz, Harbor Associates, in partnership with Taconic Capital Advisors, has purchased a 368,000-square-foot, five-building office portfolio in San Bernardino, Calif. Hines traded the portfolio in an off-market transaction for $41.7 million. CBRE’s Anthony Delorenzo, Todd Tydlaska and Sammi Cemo advised the seller in the transaction.

The buildings are located within the Tri City Corporate Center, a 153-acre master-planned mixed-use office park, comprising one million square feet of office space and an additional 390,000-square-foot retail space. The office park is situated near the intersection of interstates 10 and 215, which provide convenient access to the South Bay and Orange County.

Constructed in multiple phases between 1986 and 2008, the portfolio features assets ranging from 70,000 to 115,000 square feet and is currently 55 percent leased to 28 tenants. The buyer plans to revitalize the properties by upgrading the entries, lobbies, elevators, roofs and the HVAC system. Additional improvements will include EV charging stations, LED lighting and new signage.