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
My Takeaways from the Show! And that’s a WRAP on ICSC RECon 2018! The Progressive Real Estate Partners team was there in force with 12 of our brokers actively dealmaking, networking and diligently working the floor. Collectively we had a record 100+ formal meetings and at least a couple hundred informal meet-ups where we were … Continued
[vc_row][vc_column][vc_column_text] Pitch Videos Drive Maximum Exposure & Maximum Value [/vc_column_text][vc_empty_space][vc_video link=”https://youtu.be/mf9_HHInjWU”][vc_empty_space][vc_column_text el_class=”body-text-block” css=”.vc_custom_1524598043634{padding-right: 1em !important;padding-left: 1em !important;}”] Everybody is talking about the importance of technology and video these days and the team at Progressive Real Estate Partners is proud to be at the forefront of utilizing these tools to improve our clients’ bottom line. As … Continued
I had the pleasure of speaking to the Southern California Chapter of ACRE (Association of Corporate Real Estate Executives) in Ontario last week. Below is a summary of the information I presented about all the recent positive economic data on SoCal’s Inland Empire. 13th Largest MSA in the US – Out of over 380 MSA’s … Continued
I am writing this blog as I return from a trip to Seattle which of course included a visit to the most talked about small retail space ever – the Amazon Go grocery store! For all the press this store has received for its incredible technology, I think it is really just “Amazon So (What?)”. … Continued