Tri-City Commons

Highlights:

• Ground Zero for Inland Empire Commercial + Employment Activity — positioned at the intersection of the I-10 & I-215 freeways, in the center of one of the busiest and most established commercial hubs in the Inland Empire.
• Surrounded by High-Performing Regional Retail — Costco, Sam’s Club, In-N-Out, Panera, Dutch Bros, BJ’s, Raising Cane’s, Best Buy, Home Depot, LA Fitness, Aldi, PetSmart, and more — reinforcing this corridor as a proven destination.
• Corner Visibility at a Major Intersection — ±47,000 cars per day at Hospitality Ln & Carnegie with the center positioned for maximum exposure.
• THE Retail Shops for Tri-City — one of the most visible, highest-quality shop offerings in the immediate Tri-City / Hospitality Lane corridor.
• Extremely Limited Shop Supply — only three shop spaces under 3,000 SF currently available within the broader Hospitality Lane / Tri-City corridor, creating sustained leasing leverage.
• Durable Income Stream Diversified Across 13 Tenants — diversified rent roll across restaurant/coffee, dental/medical, financial services, insurance, beauty/wellness, and personal care users.
• Notable Tenancy Adding Momentum - Burattino Brick Oven Pizza - new lease signing, fast-casual pizza concept with multiple SoCal locations and meaningful brand visibility/social following. (1.3M followers); LifeStream Blood Bank — relocated to the site in 2021, signed a fresh 10-year lease, and invested heavily into its footprint; meaningful operational commitment; Certified Federal Credit Union — credit union servicing a defined employee/ customer base (Vons ecosystem), supporting repeat visitation.
• True NNN Structure — fully NNN leases with no caps on taxes/insurance/CAM, protecting NOI and reducing surprise owner exposure.
• 100% Leased, But Priced with 5% Vacancy Factor - Offering assumes a 5% vacancy factor despite the property being fully leased, resulting in understated in-place income (approximately a 6.80% cap rate without vacancy) and providing both a higher true yield and a built-in downside hedge.

Description:

Progressive Real Estate Partners is proud to present the opportunity to acquire The Shops at Tri-City Commons— a 100% leased, service-oriented commercial center located at the heart of the ±4.4 million square foot Tri-City Commercial Hub. The property features a diverse mix of 13 e-commerce-resistant tenants serving the surrounding employment and population base, which includes 11,710 employees and 1,000+ businesses within 1 mile and a population of 257,000 residents within 5 miles. The center benefits from excellent corner visibility at Hospitality Lane & Carnegie (±47,000 cars per day) within a severely supply-constrained shop submarket. Recent capital improvements— including a 2018 roof (transferable warranty), ±60% new HVAC units (2018–present), LED lighting (2021), camera monitoring system (2021), parking lot overlay and restriping (2022), and new paint scheme (2023)— position the asset as a stabilized, low-CapEx investment. All leases are true NNN with no expense caps and feature 3% to 4% annual rent increases, providing durable, inflation-protected NOI.

Positioned at the intersection of the I-10 & I-215 freeways, in the center of one of the busiest and most established commercial hubs in the Inland Empire.

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