Our Blog

  • 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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  • Posted by Brad Umansky on April 26, 2017
  • Commercial Real Estate, Retail

Why Banning Dual Agency Will Hurt Those It is Trying to Protect

PLEASE READ AND IF YOU AGREE WITH WHAT I HAVE STATED, ADD YOUR NAME TO THE PETITION BY CLICKING THE LINK BELOW OR WRITE A SHORT NOTE TO OPPOSE THIS LEGISLATION. TIME IS OF THE ESSENCE AS THE JUDICIARY COMMITTEE IS SCHEDULED TO DISCUSS THIS LEGISLATION ON MAY 2, 2017 SIGN PETITION OPPOSING AB1059 And/or...
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  • Posted by Brad Umansky on January 25, 2017

Inland Empire Retail Scene – Looking Back & Looking Ahead

The demand for retail space in SoCal’s Inland Empire continued to grow in 2016 and the outlook for 2017 is positive as well. Our team at Progressive Real Estate Partners reports a high level of interest and activity in both retail leasing and investment sales and the region continues to post strong economic results which...
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  • Posted by Brad Umansky on November 18, 2016

New Flight Path for Ontario International Airport!

I’m writing this blog from an airplane en route to Ontario International Airport (ONT), which I’m happy to report was recently transferred back to local control after several decades. While everyone was focused on the Chicago Cubs ending their 108 year drought a couple of weeks ago, another drought ended the same week. On November...
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  • Posted by Brad Umansky on August 10, 2016

SoCal’s Inland Empire Market Continues to Grow – 2016 Mid-Year Update

The demand for retail space in SoCal’s Inland Empire (IE) market is the strongest it has been since 2007.  Rents for new projects are exceeding the pre-recession highs, vacancy continues to decline moderately, cap rates are at historic lows, and national retailers are competing aggressively for the best locations while market fundamentals across the board...
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