The buyer has paid $4.2 million for the parcel, which stands at 15938-15942 Los Serrannos Country Club Dr. Ten tenants currently occupy this section of Country Club Marketplace II, including Subway, Blockbuster Video, Star Nails, Postal Annex, Great Clips and Hong Kong Express.
Completed in 2000, the entire Country Club Marketplace II encompasses 85,813 sf. Major tenants in the complex's remaining 69,813-sf portion, which has not been sold in the recent deal, include Albertsons and Mobil.
Jeff Conover and David Lee of Faris Lee Investments acted on behalf of the seller, E.J. Investments Corp. The buyer, Henry Sasaki, was represented by DiMeo Real Estate.
Due to the region's steady rise in population and relatively low unemployment rates, San Bernardino retail product is able to attract a large pool of consumers. Employment in the region actually started to rise in February, despite the weakened economy.
San Bernardino's unemployment level decreased 0.2% in February 2002, according to new statistics released by the State of California Employment Development Department. The region's unemployment rate dropped from 5.3% in January to 5.1% in February. According to the recently published report, the San Bernardino region has a labor force of 835,800 people and counted 42,500 employees as out of work in February.
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