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
In my most recent blog I provided an update on the 3rd quarter 2022 retail real estate market in SoCal’s Inland Empire. In that blog I referenced the fact that there has only been about 750K square feet of new retail space delivered through the first three quarters of this year and only 850K in … Continued
Many members of the Progressive Real Estate Partners team just returned from ICSC’s Western Conference in San Diego which happened to coincide with the end of the 3rd quarter of 2022. Some of the phrases most often heard or discussed at the conference included: “Change”, “Choppy Waters”, “Expansion”, “Higher Construction Costs”, “Lack of Good Space” … Continued
Over the past two years, the Progressive Real Estate Partners team has closed over $50M in owner-user transactions which represents a substantial increase compared to prior periods of time. An owner-user sale is defined as when the buyer of the building also uses the property to operate their business. The source of these opportunities has … Continued
Wow – 67 Freakin’ Years! It is almost unfathomable that anyone had the same job for that long. Vin Scully broadcasted Dodgers baseball for more time (35 years) AFTER he was inducted into the Hall of Fame than before (32 years). While I certainly like the Dodgers, I would not consider myself a devout fan. … Continued
The Progressive Real Estate Partners team spends a lot of time helping our clients understand the current market conditions relative to leasing and selling retail real estate. One of the key questions these days is how the rising short and long-term interest rate environment might impact retail real estate. Although most of the items outlined … Continued
Amazon Fresh recently opened in La Verne, California which is very close to where I live. The store opened in what was formerly an 89,000 SF Kohl’s, but as a sign of the times, Kohl’s downsized and leased out a portion of the store to Amazon. The store is approximately 40,000 square-feet and my wife … Continued