Calif.: Hines/Oaktree JV Buys 1 Million SF of Office Space

In San Bernardino, Calif., A joint venture of Houston-based Hines and a fund managed by Oaktree Capital Management has purchased Tri-City Corporate Centre, a portfolio of office buildings in San Bernardino, CA.

The portfolio is comprised of 17 Class A and B office buildings totaling 1,055,596 sq ft across the 153-acre campus. The portfolio is currently 61 percent leased to a number of well-known tenants including: Air Methods Corporation; Northrop Grumman; and The Art Institute of California.