National Asset Services Secures 10-Year Lease Extension with DMV at Prestigious Tri-City Center

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Oct 29, 2024, 08:41 ET

SAN BERNARDINO, Calif., Oct. 29, 2024 /PRNewswire/ -- National Asset Services (NAS), one of the country's leading commercial real estate companies known for maximizing property value, has secured a 7,150-square-foot lease renewal with the State of California, Department of Motor Vehicles (DMV) at Three Parkside in San Bernardino.

Three Parkside is a 28,000-square-foot office building that is part of the prestigious Tri-City Center, a 153-acre, 17-building, master-planned, mixed-use project with a unique campus environment. The Tri-City development is the largest of its kind in California's Inland Empire.

The lease's square footage accounts for approximately 25% of the building's total square footage and will run through 2034. The typical DMV field office, such as the Three Parkside location, can potentially serve approximately 78,000 to 104,000 residents annually. Services offered at the Three Parkside DMV include driver's license and ID card services, vehicle registration, address changes, and special interest and personalized license plates.

"We're thrilled to have secured another commitment from the DMV to provide another decade of crucial services for San Bernardino residents," said Shirlee J. Kingsley, CPM, Vice President, NAS & NAS Investment Solutions. "The Tri-City Center location is exceptionally convenient, with ample parking to help the DMV continue serving thousands of residents who work and live nearby."

Three Parkside is a 28,000-square-foot office building that is part of the prestigious Tri-City Center, a 153-acre, 17-building, master-planned, mixed-use project with a unique campus environment. The Tri-City development is the largest of its kind in California's Inland Empire.

NAS assumed property management of Three Parkside in 2018. The company also manages three other properties within the Tri-City campus complex: the Brier Corporate Centre, a 105,327-square-foot, three-story office building; the 118,092-square-foot Lakeside Tower; and the 31,860-square-foot One Hospitality Building.

About National Asset Services (NAS)
Since 2008, NAS has served over 2,600 investment clients and has established an impressive record in investment property management. This history includes generating over $660 million in cash distributions to property investors and managing a diverse portfolio of 186 commercial properties, comprising over 25 million square feet, across thirty-one states. Over its 15-year history, NAS' managed portfolio has a total value exceeding $3.38 billion. For more information, visit nasassets.com.

About NAS Investment Solutions (NASIS)
NAS Investment Solutions was established to leverage National Asset Services' expertise in investment property management by identifying, acquiring, and enhancing commercial real estate investments across all sectors of the industry. NAS Investment Solutions is recognized nationwide for its sponsorship of high-quality DST investment programs that offer investors well-performing assets with reliable yields.

All the company's property investments offer multiple benefits for investors, including: