The single tenant retail market is still exceptionally strong as maturing investors continue to sell more labor intensive properties and search for simplicity while deferring substantial capital gains. At Progressive Real Estate Partners, we have had a lot of success both selling some of these more intensive properties and helping our clients exchange into single … Continued
WOW – what a great ICSC RECon this year! The show definitely delivered with a jam packed program of literally something for everybody in retail real estate. Over 30,000 people attended the non-stop 4-day conference. The Progressive Real Estate Partners team was there in force and participated in well over 150 formal and informal meetings … Continued
The 85,000 sf Store is NOW OPEN in Lake Forest, CA Past readers of my blog know that my wife, Lauren, and I enjoy visiting new retailers that come to Southern California AND especially those that are new to the Inland Empire, or likely to open here in the near future. So when I suggested … Continued
I recently had the opportunity to attend an economic development event in Downtown Riverside that highlighted all the hotel, residential and retail activity happening in the area. For me, the high point of the get together was visiting the Riverside Food Lab, the Inland Empire’s first food hall as well as spending some time with … Continued
I recently sat down with Victor Buendia, Progressive Real Estate Partners’ resident gas station and car wash sales specialist, to discuss the differences in selling this type of asset that includes BOTH the business AND the real estate compared to a typical investment sale property. Victor has successfully closed numerous gas station and car wash … Continued
The question, “Where’s the Market?” is probably the one I am asked most often about SoCal’s Inland Empire when I’m attending industry events. Knowing I am going to be asked, I try to prepare accordingly. Here are my latest answers/observations: Vacancy is Low and Remaining Spaces are Mostly Tough: As of March 1 vacancy is … Continued
Happy New Year and wishing everyone a healthy, happy and successful 2019! I’m coming to you live from the Progressive Real Estate Partners headquarters in Rancho Cucamonga which of course is in the Inland Empire! Before providing some thoughts on what’s in store for SoCal’s Inland Empire retail market in the new year here’s a … Continued
I just returned from a vacation in Maui to celebrate turning the BIG 50! Not only was it a fantastic trip, but while I was there I realized first-hand just how much social media and apps are changing the retail environment. Here are a few examples: • GyPSy App: On our drive on “The Road … Continued
While reviewing Progressive Real Estate Partner’s leasing activity for the year, I’ve noticed an interesting trend happening in SoCal’s Inland Empire. Year to date a whopping 78% of our leasing transactions have been with independent mom and pop retailers. This is by far the highest percentage since 2010. In 2015, 2016, and 2017 the figures … Continued
[vc_row][vc_column][vc_column_text] The Progressive Real Estate Partners team just returned from the 2018 ICSC Western Conference in downtown Los Angeles. A total of 3,906 people registered but when you add in those in the “shadow economy” (aka people that hung out in the coffee bar lobby but didn’t register) there were easily over 4,000 people in … Continued
Much has been written about the changing retail marketplace especially as it relates to the impact of e-commerce but another major story line has been around how developers and landlords are addressing the closing of multiple large format retailers (ie Sears, Kmart, Toys R Us, etc.) which has resulted in a significant increase in vacant … Continued
[vc_row][vc_column][vc_column_text]Can you imagine attending the ICSC RECon conference in Las Vegas just one week into the business? Well that’s exactly what Progressive Real Estate Partners’ newest hire and Retail Apprentice, Renae Giacopuzzi, did this year. Renae recently graduated from Azusa Pacific University with a degree in Business Management and is following in the footsteps of … Continued