The company, which is planning to move into the building in June, has inked a nine-year agreement with Hughes Markets Inc. The facility, which stands at 14988 Bear Valley Rd., will be the first location for the new tenant, according to Paul Biane, a NAI Capital Commercial broker who worked on the deal.
Biane, along with NAI Capital colleagues Joe Hensley and Vicky Espinosa, acted on behalf of Hughes Markets. Bear Valley Indoor Swapmeet was represented by Joseph Chu of Apex Realty.
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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