I am in the middle of a couple of investment sales deals where the words “vapor testing” has come up and negative results from these tests is a source of grief relative to our transaction moving forward in an expeditious manner. This past week, as a part of the Progressive Real Estate Partners monthly Learning … Continued
One of the trends we’ve observed at Progressive Real Estate Partners the last few years is that many sellers believe that the retail investment sales market has been dominated by Asian/Chinese buyers. After hearing this repeatedly, we decided to see if this is actually a “fact” or a “myth”. What we learned is that while … Continued
[vc_row][vc_column][vc_column_text] The demand for retail space in SoCal’s Inland Empire continued to grow in 2016 and the outlook for 2017 is positive as well. Our team at Progressive Real Estate Partners reports a high level of interest and activity in both retail leasing and investment sales and the region continues to post strong economic results … Continued
One of the biggest leasing challenges faced by our team at Progressive Real Estate Partners is the lease-up of the last few spaces in a shopping center. Although the retail industry has benefitted from over 5 years of economic expansion, a changing market has resulted in the downsizing or elimination of many retailers and that, … Continued
As President of Progressive Real Estate Partners (PREP) one of my main goals has been to create an office culture where continuous learning is valued and knowledge is priceless. In addition to our in-house training and coaching, I encourage our brokers to take advantage of other educational opportunities such as attending industry sponsored classes, obtaining … Continued
The UPS driver just left a large box at our door and when I picked it up I couldn’t believe it was so light. When my wife opened it and showed me the three small envelopes inside (see photo) with all the plastic bubble protection, I wondered why the environmentalists aren’t screaming about this waste. … Continued
[vc_row][vc_column][vc_column_text]I’m writing this blog from an airplane en route to Ontario International Airport (ONT), which I’m happy to report was recently transferred back to local control after several decades. While everyone was focused on the Chicago Cubs ending their 108 year drought a couple of weeks ago, another drought ended the same week. On November … Continued
If you’ve ever sought out health related services at your neighborhood shopping center then you’re part of a flourishing trend in retail. Grocery shopping and medical services might seem like strange bedfellows but in a world where health and wellness is a top priority AND consumers value convenience, healthcare providers are increasingly choosing to locate … Continued
The Progressive Real Estate Partners team recently attended the International Council of Shopping Centers (ICSC) Western Division conference in San Diego, CA. This year’s theme was “Deals, Deals, Deals” highlighting the resurgence and momentum the retail industry is currently enjoying. It was a great show with lots of deal making activity AND positive energy and … Continued
The grocery store business is one of my favorite parts of the retail sector. My wife and I really enjoy visiting new grocery stores when we travel. It is a fun way to see how the stores are presented, the product assortment, and a great opportunity to discover new food items. So when we heard … Continued
The demand for retail space in SoCal’s Inland Empire (IE) market is the strongest it has been since 2007. Rents for new projects are exceeding the pre-recession highs, vacancy continues to decline moderately, cap rates are at historic lows, and national retailers are competing aggressively for the best locations while market fundamentals across the board … Continued
What Makes Aldi Different & Why I Think They Will Succeed in SoCal Aldi, the German based discount grocery chain, recently opened its first eight Southern California stores in Fontana, Lake Elsinore, Moreno Valley, San Bernardino, Yucaipa, Palm Springs and La Quinta, all of which are in the Inland Empire. Plans call for an additional … Continued