Our Blog

  • Posted by Brad Umansky on July 25, 2019

The Challenge of Valuing Commercial Land

Based upon the vast amount of land throughout SoCal’s Inland Empire, we have put substantial resources into developing our commercial land brokerage business. According to Costar, there are presently 2,038 commercially zoned parcels that are actively on the market in the Inland Empire.  In the 12 months ending June 30, 2019, only 272 have sold....
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  • Posted by Brad Umansky on July 09, 2019

Do You Have Sleepy Equity?

I googled the term “Sleepy Equity” and I found nothing. I can’t remember exactly when or from whom I first heard the expression, but this is a term that we have discussed at Progressive Real Estate Partners a lot recently. We believe Sleepy Equity is one of the biggest reasons why an investor should consider...
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  • Posted by Brad Umansky on March 11, 2019

Where’s the Market? An Update on the Inland Empire Retail Real Estate Scene!

The question, “Where’s the Market?” is probably the one I am asked most often about SoCal’s Inland Empire when I’m attending industry events.  Knowing I am going to be asked, I try to prepare accordingly.  Here are my latest answers/observations: Vacancy is Low and Remaining Spaces are Mostly Tough:  As of March 1 vacancy is...
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  • Posted by Brad Umansky on August 14, 2018

How BIG is the Big Box Vacancy Problem in SoCal’s Inland Empire?

Much has been written about the changing retail marketplace especially as it relates to the impact of e-commerce but another major story line has been around how developers and landlords are addressing the closing of multiple large format retailers (ie Sears, Kmart, Toys R Us, etc.) which has resulted in a significant increase in vacant...
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  • Posted by Brad Umansky on March 19, 2018

10 Facts Any Retailer or Investor Should Know about SoCal’s Inland Empire Economy

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...
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  • Posted by Brad Umansky on January 22, 2018

The Outlook for Retail Investment Sales in SoCal’s Inland Empire

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....
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  • Posted by Brad Umansky on August 07, 2017
  • Commercial Real Estate, Inland Empire, Retail Leasing

The Gift of the $15 Minimum Wage

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...
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  • Posted by Brad Umansky on July 27, 2017

SoCal’s Inland Empire Enjoying Best Retail Economy in a Decade

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...
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