About 15 years ago, I was involved in a transaction for over $10M that didn’t close because the buyer’s money was stolen by their Qualified Intermediary (“QI”) also known in the industry as a 1031 Accommodator. The buyer had inherited agricultural land that they had sold for over $20M. They entrusted these funds to a … Continued
Nation’s Restaurant News publishes a list of the Top 500 Restaurant Chains ranked by sales volume. They also include total sales growth, per unit sales growth, per unit growth, and the number of units in each chain. After reviewing the information closely, here are some of my observations, especially as it relates to Southern California. … Continued
Ask any property owner, tenant, developer, or broker what they think of the American Disabilities Act (“ADA”), and you will likely get an earful of negative feedback. I share much of that sentiment as I believe that the implementation of the ADA has fallen short of its intended goals. I recently returned from visiting my … Continued
Today’s retail real estate market in SoCal’s Inland Empire fascinates me. In my 30+ year career and as President of Progressive Real Estate Partners, I believe this may be the fundamentally strongest market that I have seen. And yet when you speak to all the different players, the narrative might make you think otherwise. The … Continued
It was great to be back in person at this year’s ICSC Las Vegas conference and to learn about the latest trends shaping the retail real estate industry. Nine brokers from the Progressive Real Estate Partners team attended and we had an incredibly productive show with lots of meetings, learning and networking. In an industry … Continued
Like many of you I’m excited to watch the Kentucky Derby this weekend. The infamous race is known for its pageantry and unpredictability, with different horses and jockeys vying for the win. Similarly, SoCal’s Inland Empire retail real estate market is also full of twists and turns, with a multitude of factors affecting its success … Continued
One of the aspects of living and working in Southern California’s Inland Empire is the dynamic nature of the region. The growth is like a piece of artwork that never gets completed, but just keeps getting more interesting. I have been in awe of the region over the last 30 years and I look forward … Continued
This blog is a bit promotional, but mostly for Mike Tohikian’s Hot Spotting Podcast. I recently had the opportunity to be a guest on Mike’s podcast and it was a lot of fun. The first episodes of the Hot Spotting Real Estate Podcast launched in January 2022. Thus far, he has dropped 22 episodes with … Continued
Last year was a record year for the Progressive Real Estate Partners team having completed more retail investment sales and leasing transactions (134) than any other brokerage in SoCal’s Inland Empire. Although our relationships, skills, and marketing were key to our success we also recognize that the thriving Inland Empire economy and having the wind … Continued
This year’s holiday calendar results in Christmas and New Years both being on Sunday which is likely to mean our industry will be very quiet next week. Commercial real estate seems to have morphed into an industry with very little mental time off as emails and texts just don’t stop. I am actually hopeful that … Continued
The headline of this blog paraphrases a quote attributed to Confucious that says, “the man who chases two rabbits catches none.” As I observe the restaurant industry these days, this saying comes to mind. The question I am asking is how well restaurants can adopt ALL the customer delivery methods AND still maintain their brand … Continued
It is with great sorrow that I share that Cheryl Fry recently passed away suddenly and unexpectedly of cardiovascular disease. She was 64. For those of you who didn’t know her, Cheryl was active in the commercial real estate industry for the past 30 years. She spent virtually all of that time as a Real … Continued