I had the pleasure of speaking to the Southern California Chapter of ACRE (Association of Corporate Real Estate Executives) in Ontario last week. Below is a summary of the information I presented about all the recent positive economic data on SoCal’s Inland Empire. 13th Largest MSA in the US – Out of over 380 MSA’s … Continued
I am writing this blog as I return from a trip to Seattle which of course included a visit to the most talked about small retail space ever – the Amazon Go grocery store! For all the press this store has received for its incredible technology, I think it is really just “Amazon So (What?)”. … Continued
Working Together Produces Winning Results Progressive Real Estate Partners specializes in retail leasing in SoCal’s Inland Empire and we have worked with literally hundreds of property owners and landlords in the market. We always view the relationship as a “team effort” and, although your retail leasing broker is an independent contractor, they should be thought of … Continued
Will Rising Rents Be Offset by Higher Cap Rates In 2018? With retail vacancy in the Inland Empire hovering around 7%, most shopping centers, if not fully leased, are nearly full. As mentioned in my last blog, the majority of the vacancy is confined to a very small percentage of the properties in the market. … Continued
Happy New Year friends! It’s that time of year when we reflect on the past and look ahead to what the new year will bring. Here are my takeaways from 2017 and thoughts on where the retail leasing market in SoCal’s Inland Empire is heading in 2018. All and all 2017 was an excellent year … Continued
Happy Halloween! The Progressive Real Estate Partners team always enjoys celebrating Halloween and this year It occurred to me that this might be the last year for another type of “10/31” – – aka the 1031 exchange which is currently on the menu of possible tax “loopholes” to be eliminated in an effort to make … Continued
Ciao friends – – my wife and I just returned from a fantastic trip to Italy. We visited Rome, Florence, Siena, Como, and Venice. Stepping out of SoCal’s Inland Empire for a couple of weeks was really enlightening and refreshing. While it’s still top of mind I wanted to share a few of my observations … Continued
[vc_row][vc_column][vc_column_text]The Progressive Real Estate Partners team just returned from the annual ICSC Western Division Conference which was held for the first time at the Los Angeles Convention Center. We hung out with over 4,000 of our closest friends in the industry making deals and building relationships! Here are some of our “post-game” takeaways: Existing Non-Mall … Continued
Are the restaurant and grocery industries a zero sum game? I believe so. Despite my desire to eat all day at different places, it is simply not possible for me or anyone else. As a result, any decision we make to consume food at one place means we are not eating at another place. The … Continued
California’s predicable and incremental march towards a $15/hour minimum wage has given California businesses a gift. The gift is certainty. Business owners love certainty and knowing that minimum wage is climbing from $9/hour in 2016 to $15/hour by 2022 allows them to make decisions and plan accordingly. For a restaurant or retailer that is open … Continued
I just finished putting together an Inland Empire 2017 Mid-Year Retail Sector Review and I thought I would share some of the highlights with our industry friends: IE unemployment is at 4.5% and you can feel it. The streets are busier, restaurants are busy, and it is becoming more challenging for everyone to hire the … Continued
Our Guest Blogger is Mike Lin, Retail Specialist on the Progressive Real Estate Partners team. In this blog, Mike shares his takeaways from the recent AREAA Super Summit. Enjoy! – Brad Umansky I recently attended the 6th annual AREAA (Asian Real Estate Association of America) Greater Los Angeles Super Summit. The full day event drew … Continued