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
The 2022 ICSC convention in Las Vegas just concluded this past week after a two-year hiatus due to the pandemic. The comeback was strong with 21,000+ in attendance and was easily the biggest meeting of industry professionals since the start of the pandemic. Although I didn’t personally attend, six members of the Progressive Real Estate … Continued
By: Brad Umansky, President of Progressive Real Estate Partners As a SoCal Inland Empire Retail Specialist for the past 30 years, I have seen this relationship “through sickness and health” and I am pleased to say that we are in very healthy times. The following provides some of the vital statistics demonstrating the health of … Continued
Hard to believe but it was 30 years ago this month that I started in the commercial real estate brokerage business. As I celebrate this milestone I find myself reflecting on how I got here and what I’ve learned along the way. In 1992 I had recently received my undergraduate degree from the Wharton School … Continued
My team at Progressive Real Estate Partners recently had the opportunity to help a client successfully accomplish his 1031 exchange goal of selling a Southern California multi-tenant retail center that he owned for 20+ years and trade into 3 absolute triple net single-tenant fast food properties in other states. Although our team has helped a … Continued
As we wrap up 2021, I’m pleased to share that it was a record year for Progressive Real Estate Partners. And although we might like to believe it was purely a result of our wonderful clients, terrific broker and industry relationships, skilled team, outstanding resources and aggressive marketing we also acknowledge that we really had … Continued
We are pleased to share this 5 minute video by PREP’s Vice President of Investment Sales, Mike Lin, in which he takes you through a recent industry report that highlights the strength and recovery of the retail industry. This is good info and we wanted to share it with all that typically receive Brad’s Blog. … Continued
I have been an ICSC member for just under 30 years. Candidly I must admit that my initial reaction to receiving ICSC’s rebranding email was “this sucks”. In talking to others many felt the same. The “Innovating Commerce Serving Communities” name is a mouthful and certainly easily forgettable. More importantly after watching the 30 minute … Continued
In the past year alone, our team at Progressive Real Estate Partners has sold: A former Pier One to an independent beauty supply company A former Food 4 Less to a regional flooring retailer/distributor A former Banner Mattress to a cell phone franchisee A former Acapulco Restaurant to an independent Japanese Restauranteur A former Mexican restaurant to … Continued