The Progressive Real Estate Partners team recently attended the International Council of Shopping Centers (ICSC) Western Division conference in San Diego, CA. This year’s theme was “Deals, Deals, Deals” highlighting the resurgence and momentum the retail industry is currently enjoying. It was a great show with lots of deal making activity AND positive energy and … Continued
The grocery store business is one of my favorite parts of the retail sector. My wife and I really enjoy visiting new grocery stores when we travel. It is a fun way to see how the stores are presented, the product assortment, and a great opportunity to discover new food items. So when we heard … Continued
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 … Continued
What Makes Aldi Different & Why I Think They Will Succeed in SoCal Aldi, the German based discount grocery chain, recently opened its first eight Southern California stores in Fontana, Lake Elsinore, Moreno Valley, San Bernardino, Yucaipa, Palm Springs and La Quinta, all of which are in the Inland Empire. Plans call for an additional … Continued
5 Ways to Know if a Listing Broker Really Cooperates Since I started in the brokerage business over 20 years ago, it was intuitive to me that it was important to cooperate with other brokers in order to fulfill my fiduciary obligation to my clients AND to maximize the value of their property. In my … Continued
Although I know we all hate to think about having to deal with a casualty at our property, I recently listened to an excellent podcast on the subject. I am a big fan of Kevin Bupp’s podcast, Real Estate Investing for Cash Flow. In this episode, Kevin interviews Scott Friedson, CEO of Insurance Claim Recovery … Continued
As an investment property owner, it’s easy to just hope that the rent comes in and expenses and hassles are kept to a minimum. As a result, owners frequently lose track of the big picture. In my book, Value Added – Successful Strategies for Listing and Selling Investment Real Estate, there is a chapter called … Continued
Not only is spinning great exercise (and an incredible calorie burn), it’s also a perfect example of the benefits of being part of a group with the same goals versus trying to achieve those goals without the comradery of the group. As I was pedaling away on the bike the other day, I realized that the … Continued
I recently read a forecast from a highly acclaimed economist who said, “I do not foresee any surprises in 2016.” I immediately wondered if I was the only one who read this and realized that this statement made no sense. By default, you can never predict a surprise or it would not be a surprise! … Continued
PREP has listings all over the Inland Empire, including the Town of Yucca Valley. While some may raise an eyebrow at this market, our real estate experts see tremendous and unique opportunity to build a retail haven, or a new “Oz” if you will. Take our 5774 29 Palms & 58132 29 Palms locations for … Continued
As owner of Progressive Real Estate Partners one of the most rewarding parts of my job is I get the opportunity to “pay it forward” and use my experience and connections to mentor young brokers developing their career in CRE. I find having a diversified team of retail brokers including both industry veterans AND young … Continued
It’s no secret that Southern California’s Inland Empire (IE) economy has made an incredible come back from the recession. The region is experiencing record growth and shows no sign of slowing down. Here’s a recap of why the IE is at the top of its game: 1. A $134B Economy: The IE has the 24th … Continued