Note: I am not an attorney, but the subject of this blog is legal in nature. Readers are advised to read this blog from the perspective of what our team sees as potential impacts to our industry based upon this new legislation versus as legal advice. Please consult your attorney for any legal advice relative … Continued
I have become an avid user of ChatGPT in both my personal and business life. This year one of our goals at Progressive Real Estate Partners has been to share with each other various ways to utilize ChatGPT in our business and our lives. We believe in “Getting Better Together” and that applies both internally … Continued
The Progressive Real Estate Partners team just returned from the ICSC Western Conference held in Palm Springs, CA. The energy level was high and it’s always refreshing to meet face-to-face and have those impromptu chats you just can’t replicate online. As we debriefed from this conference, it’s clear that each individual’s perspective is very much … Continued
As I have said for years, there are three certainties of life; death, taxes AND that retail real estate keeps changing. Many who read this blog are not in the retail leasing market trenches day in and day out. For those of you who are, items in this blog may confirm what you already know, … Continued
In addition to Progressive Real Estate Partner’s primary focus on the retail real estate market in Southern California’s Inland Empire, we continue to expand our presence to the Eastern San Gabriel Valley (605 Freeway east toward the Los Angeles County line). As a result, I have combined data from this marketplace with the Inland Empire … Continued
I am pleased to share that ten of the Progressive Real Estate Partners team have just returned from a few very intense days at the ICSC Las Vegas Conference which is the largest annual gathering of retail real estate professionals. Our team estimates that we shook hands, hugged, fist bumped, and of course talked and … Continued
I recently had the opportunity to attend and participate as a retail panelist at the RENTV Inland Empire State of the Market Conference. I enjoyed sharing the podium with Matt Magnaghi of Kimco Realty Corporation, Chris Kehl of SRS Real Estate Partners and Todd Huber of Paragon Commercial as we provided an update on the … Continued
I have always found that the Marcus & Millichap (NYSE: MMI) quarterly and annual SEC reports are very informative and, in my opinion, present the purest form of data about the investment sales brokerage business. Reading these reports helps me understand information like average deal size, transactions per broker, expense ratios and similar data that … Continued
If someone tells you with certainty what your retail property is worth in today’s market, you can be confident that they are either naive or not giving you the full picture. Following the 2021-2022 era of record velocity and low cap rates the market is at a crossroads. On one hand, there is not enough … Continued
Unfortunately, it has become all too common for corporate retail tenants to attempt to renegotiate their rent when the lease term is coming due even when the store is a strong performer AND there are options built into the lease to renew at pre-determined and agreed upon rents. This practice has become big business for … Continued
On April 1, 2024, the minimum wage for fast food workers who work at a “National Fast Food Chain” will increase to $20/hour in California. This is a full 25% higher than the current $16/hour for all other workers. This minimum wage is the major provision of Assembly Bill 1228 that was signed by the … Continued
There have been a lot of articles and blogs detailing all the events of 2023. Although it’s always good to reflect back and learn from experience, at Progressive Real Estate Partners we’re more focused on understanding the current environment and looking forward. SoCal’s Inland Empire region continues to enjoy population growth, new housing developments, job … Continued