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 indep...
read more
News/Blog
The Economy is About to Boom – Here is How I Know
We’ve all seen the headlines about the economy taking off post pandemic and based on my personal life experience I’m inclined to agree.
Both my wife and daughter have conditions that gave them great concern about Covid and like many other families we have been in “lock down” mode for the ...
read moreVideo: Why I’m Bullish on SoCal’s Inland Empire
Click Here to View Entire Video
Video Index (with direct links to segment)
00.08 Introduction
03:18 Where exactly is SoCal’s Inland Empire
04:43 Does it concern you that people are leaving California
07:23 Why are you bullish on the Inland Empire
11:17 What is the attitude of the Inland ...
read moreWhen Will All the Retail Investment Bargains Arrive
As a part of our retail investment sales and leasing brokerage business, the Progressive Real Estate Partners team speaks to hundreds of investors and tenants each month. We’ve found there are numerous investors expecting the pandemic to result in significant “bargains” on retail investment pr...
read moreIs SoCal’s Inland Empire Retail Investment Sales Market Booming?
Below are two charts. The top one shows the average price per square foot for retail properties that have recently sold in Southern California’s Inland Empire. The bottom one shows the cap rates for these same properties.
If you had no context other than these charts, most people would say that th...
read more11 Leasing Indicators for the Inland Empire Retail Scene
We all know about the negative impact the pandemic has had on many in the shopping, travel, fitness and restaurant business so I’m not going to reiterate that here. Instead, in this blog I’m going to focus on the actual financial metrics resulting from the related recession on SoCal’s Inland...
read more7 Reasons the Retail Owner/User Sales Market is Thriving
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 independen...
read moreThe Economy is About to Boom – Here is How I Know
We’ve all seen the headlines about the economy taking off post pandemic and based on my personal life experience I’m inclined to agree.
Both my wife and daughter have conditions that gave them great concern about Covid and like many other families we have been in “lock down” mode for the pas...
read moreVideo: Why I’m Bullish on SoCal’s Inland Empire
Click Here to View Entire Video
Video Index (with direct links to segment)
00.08 Introduction
03:18 Where exactly is SoCal’s Inland Empire
04:43 Does it concern you that people are leaving California
07:23 Why are you bullish on the Inland Empire
11:17 What is the attitude of the Inl...
read moreWhen Will All the Retail Investment Bargains Arrive
As a part of our retail investment sales and leasing brokerage business, the Progressive Real Estate Partners team speaks to hundreds of investors and tenants each month. We’ve found there are numerous investors expecting the pandemic to result in significant “bargains” on retail investment pr...
read moreLooking Ahead to 2021’s Inland Empire Retail Real Estate Market
Data, Concerns & Opportunities
Suffice it to say that 2020 has been unlike any other year. And, certainly with all the pandemic related challenges it could have been much worse for SoCal’s Inland Empire retail real estate market. Fortunately, this industry is filled with positive, tenaciou...
read moreIs SoCal’s Inland Empire Retail Investment Sales Market Booming?
Below are two charts. The top one shows the average price per square foot for retail properties that have recently sold in Southern California’s Inland Empire. The bottom one shows the cap rates for these same properties.
If you had no context other than these charts, most people would say that th...
read more11 Leasing Indicators for the Inland Empire Retail Scene
We all know about the negative impact the pandemic has had on many in the shopping, travel, fitness and restaurant business so I’m not going to reiterate that here. Instead, in this blog I’m going to focus on the actual financial metrics resulting from the related recession on SoCal’s Inland...
read moreRenters Are Hungry for Balconies During Pandemic
New Survey Shows 36% of Residents Have Experienced Some Sort of Income Loss...
read more12 Reasons I Oppose Proposition 15 – The “Split Roll Tax” Constitutional Amendment
If you regularly read my blogs you know that I generally avoid being political. Not with this blog. I am adamantly opposed to California’s Proposition 15. In my opinion, the state’s desire to increase revenue on the backs of the business community will be very damaging which will far out...
read moreThe top 5 listing sites in CRE in 2020
Every year as part of the DNA of #CRE, we ask brokers about the tools and practices they employ to be successful in their work. One of the most widely used tools is the commercial listing site.Here are the most-used listing sites according to the 730 respondents of the 2020 DNA of #CRE Broker Survey...
read moreDeveloper sought for ‘Ontario Loop’ tunnel between airport and Rancho Cucamonga
Two innovative mass transit projects being built at the same time could change the way people get around by connecting the High Desert to Las Vegas, the Inland Valley, Los Angeles and Ontario International Airport.
Both a private company’s high-speed rail project planned from Victor Valley to Las ...
read moreAnother 100,000-SF Lease, Another Inland Empire Logistics Company
51 Delivery Signs Warehouse Deal in Montclair...
read moreTrusts Trade El Cajon Apartments for $5.7 Million
South Coast Commercial Brokers Sale of Regency Park Apartments...
read moreSouthern California national forests closed for a week because of fire danger
The U.S. Forest Service will close its national forests across Southern California for one week due to the region’s dangerous wildfire conditions and limited firefighting resources, the agency announced Monday, Sept. 7.
The closures began at 5 p.m. Monday, Sept. 7, 2020 and will continue to Monday...
read moreAugust sees uptick in retail rent collections, but total’s still below 80%
Sportsman's Warehouse's rents are 100% paid up.
Retail center landlords received 79.7% of their rent checks in August, just a two-percentage-point improvement over July. National chains paid 83.5% of their bills, while non-nationals paid 76%. Last year at this time, all retailers were more than 9...
read moreREIT Credits Diversified Portfolio for Strong Rent Collection Levels During Pandemic
Diversified real estate investment trust W.P. Carey credited its international portfolio’s exposure to large-revenue tenants and limited exposure to retail, lodging and leisure properties as the primary factors in achieving rent collection levels higher than most REITs during the COVID-19 pandemic...
read moreIkea Parent Company Acquires Beleagured San Francisco Mall
TMG Partners, Alexandria Real Estate Land Buyer for Long-Vacant 6x6 Shopping Center...
read moreSouthern California Housing Allocation Plan Approved to Tackle Housing Crisis
Southern California regional planners are anticipating challenges to a newly approved housing allocation plan that seeks to divvy responsibility among six counties for at least 1.3 million needed new residential units over the next decade, amid efforts to tackle a critical statewide shortage of affo...
read moreThe Cautious Recovery
Strong Jobs Report Hides Underlying Worries...
read moreFor Student Housing Investors, the Test Starts Now
Thousands of Off-Campus Apartments, Valued at More Than $1 Billion, Are on the Block...
read moreAmazon in yet another building, hiring initiative
Amazon is making Bellevue, Wash., a major center for corporate growth.
The e-tail giant, which announced plans to create 15,000 jobs and build a 43-story skyscraper in Bellevue in February 2020, now intends to add another 10,000 jobs there over the next few years. To accommodate these new roles in t...
read moreMichaels ups holiday hiring
The Michaels Companies is one of the first retailers to announce its hiring plans for a holiday season that is likely to be far different than years past.
The arts and crafts giant announced it will hire more than 16,000 seasonal positions across its U.S. and Canada stores and distribution centers i...
read moreUnder Armour to close U.S. stores on Thanksgiving
Under Armour has joined the growing list of retailers who will not be open for business on Nov. 26.
The athletic apparel and gear brand said it will close its 179 retail locations in the U.S. on Thanksgiving as a way to thank its 6,000-plus store workforce for their efforts during the pandemic. Amon...
read moreReport: U.S. Q2 online sales up 31.8%; to account for 14.5% of retail sales in 2020
Consumers shopped heavily online in the second quarter as the pandemic accelerated the ongoing shift to the channel.
Second-quarter retail e-commerce sales in the U.S. grew by almost a third (31.8%) from the previous quarter and were 44.5% year over year, per the US Census Bureau of the Department o...
read moreElectric car brand ‘pops up’ at Macy’s
A pop-up shop dedicated to Polestar has opened at Macy’s location on Union Square in San Francisco.
The pop-up showcases the design-focused brand’s, line-up of performance electric cars. Shoppers can experience and test drive the Polestar 2.
“Our spaces are designed to inspire, inform and deli...
read moreWalmart selects Open Call finalists
Walmart is inviting about 850 U.S. entrepreneurs to virtually pitch their products in its seventh annual Open Call competition.
Open Call invites entrepreneurs with U.S.-manufactured products to apply for the opportunity to virtually meet with Walmart buyers on Oct. 1, 2020. The event, being held vi...
read moreSenior Living: Why Black aging matters, too
Old. Chronically ill. Black.
People who fit this description are more likely to die from COVID-19 than any other group in the country.
They are perishing quietly, out of sight, in homes and apartment buildings, senior housing complexes, nursing homes and hospitals, disproportionately poor, frail ...
read moreWhat you need to know about California’s eviction protections
Just days before courts resumed processing eviction filings after a five-month freeze, California this week enacted statewide protections through next year for tenants struggling to pay rent amid the economic fallout from the coronavirus pandemic.
More than 8 million Californians have filed for un...
read more‘Missing middle’ homes could ease affordability squeeze, architect says
By Jeff Ostrowski | Bankrate.com
When Daniel Parolek looks at the American housing market, the architect sees both an affordability crisis and a distinct lack of the old-fashioned housing types that could deliver modestly priced homes.
In his new book, “Missing Middle Housing,” Parolek proposes ...
read moreEviction bans could stop housing’s recovery
“The stability of the entire rental housing sector is thrown into question.”
Those are not my words, but I concur.
Doug Bibby, president of the National Multifamily Housing Council, wonders how his industry will survive after a week that saw California and President Donald Trump temporarily ban ...
read moreInland Empire pending home sales up 7.6% in year, LA-Orange County 4.9%
Local house hunters increased the number of contracts they signed for the 16th week out of the past 19.
Zillow statistics for the four-county region show Southern California buyers put 3,770 existing residences into escrow in the week ended Aug. 29 — up 0.7% in a week and up 6% in a year.
New pe...
read moreDraftKings-Cubs Sportsbook Partnership Launches Search for Retail Sites
A real estate team from betting operator DraftKings is scouting retail sites in Chicago’s Wrigleyville neighborhood to open what could be the first sportsbook venue outside an MLB stadium after the gaming and entertainment firm signed a sports-betting partnership deal with the Chicago Cubs basebal...
read moreApartment Landlords Spend Over $32 Million to Fight Rent Control Measure
Donations By Out-of-State Apartment REITs Drive Spending to Defeat Proposition 21...
read moreLos Angeles Office Market Fundamentals Continue to Weaken
Hope for a Quick Turnaround Diminishes Further as Pandemic Wears On...
read moreCalifornia Housing Production, Homelessness Accountability Bills Head to Governor’s Desk
Lawmakers Pass Measures Aimed at Helping Teachers, Increasing Data Reporting...
read moreAmerican Dream to Reopen Oct. 1 Following Coronavirus-Related Shutdown
American Dream began opening late last year as the biggest U.S. retailing test of the concept of supplementing stores with experiences such as ice skating and a water park, only to get shut down by the pandemic. Now those areas are reopening, testing whether that concept can work in the coronavirus ...
read moreUS Hotel Occupancy Falls Two Straight Weeks Heading Into Labor Day Weekend
Demand May Remain Weak Because Business Travel Tends to Be Low in Week After Holiday...
read moreSouthern California cities can soon object to giant increases in housing goals
[et_pb_section admin_label="section"]
[et_pb_row admin_label="row"]
[et_pb_column type="4_4"][et_pb_text admin_label="Text"]Southern California cities facing enormous increases in the number of homes the state wants them to build over the next decade soon will be able to appeal their “RHNA ...
read moreDick’s Sporting Goods sets store openings for September
Dick’s Sporting Goods keeps expanding its nationwide footprint.
The sporting goods retailer will open one namesake store, one combination of Dick’s and Golf Galaxy location, and one Golf Galaxy store in September. Following the openings, Dick’s will have 730 namesake stores and 97 Golf Galaxy ...
read moreDollar Tree opens two new distribution centers
Dollar Tree keeps expanding its distribution center network to serve its growing store fleet.
The discounter opened its 25th U.S. distribution center, a 1.2 million-sq.-ft. facility in Rosenberg, Texas. It also recently started shipping product from its 26th U.S. facility, in Ocala, Fla. The first p...
read moreThe Future of Commercial Real Estate Investing Without the 1031 Exchange
With the election season upon us it’s a good time to review some of the tax proposals that are being suggested. According to numerous online sources, Presidential nominee Joe Biden is proposing a number of changes to the Federal tax code that would affect commercial real estate investors...
read moreInland Empire Cities Face New Challenges in Today’s World
Click here to View Entire Video
Video Index (with direct links to segment)
00:04 ACRE representatives and panelist Introductions
10:23 Impact of Covid on budgets and considerations moving forward
20:53 How online sales are helping cities
30:03 Easing of restrictions ...
read moreHow is the Inland Empire Retail Real Estate Market Holding Up?
Could August 15th Be the Next Critical Date?
As retail is re-opening and we’re all getting used to the new reality one of the questions I hear most often is “What impact has the past 4 months had on the Inland Empire retail real estate market”. To answer that question, I&rsqu...
read moreBrad’s Blog – What Does CA Senate Bill 939 Actually Say?
There has been a lot of talk in the industry about the proposed CA Senate Bill 939 that interferes with leases between landlords and certain tenants. Since so many of our clients have asked about the bill, I decided to actually read the legislation since I could not find another source that explaine...
read moreOur RECon 2020 Recap
If this were a parallel universe, I would just be returning from the ICSC RECon conference where I would’ve just spent the last several days with 35,000 of my closest friends. But, understandably, due to the global pandemic ICSC had to cancel this year’s event. So instead the Progressive...
read moreMarriage Counseling for the Landlord and Tenant Relationship
I have always told my team at Progressive Real Estate Partners that the difference between a retail lease and investment sale transaction is like getting married vs. divorced. In a sale transaction, the parties usually never hear from each other again. By contrast with a lease transaction the partie...
read moreHandicapping the Retailers in a Post Stay at Home World
I have a headache and you probably do too from all the information that is being fired at us in the form of emails, webinars, podcasts, and news reports. And yes, I acknowledge the hypocrisy of adding more info to your inbox, but since I put these thoughts together and since I think there is some or...
read moreNow More Than Ever It’s Time to Do What is Right
With everything happening in the world, I’m sure like a lot of you, I’ve experienced a wide range of emotions over the last week ranging from fear to uncertainty to sadness to being grateful for what I have. But folks I am frustrated right now which might not be the best time to b...
read moreThe April 1 Rent Payment Conundrum
It seems that the hottest topic of conversation over the past few days is what to do when a tenant’s business is adversely affected by “the virus”. Based upon conversations with landlords, tenants and property managers there is no doubt that many tenants and landlords are alr...
read moreMy Experience as an ICSC Legislative Advocate
I recently had the opportunity to participate in the International Council of Shopping Center’s (ICSC) 2020 Congressional Fly-Out Program. In past years, ICSC has arranged for a group of its members to visit Washington, DC to meet with their elected officials and advocate on behalf of the reta...
read moreI’ve SOLD My Commercial Real Estate – Now What?
Image Attribution: www.mynd.coMotivation to sell can vary from desperation to windfall. Some sellers don’t have a choice – they must sell. While others take advantage of a large run up in pricing to reap some profit. In the former – a loan that must be repaid, a business failure, o...
read moreEY Announces Rich Sarkis of Reonomy as an Entrepreneur Of The Year® 2020 New York Award Finalist
Ernst & Young LLP (EY US) today announced that Executive Chairman Rich Sarkis of Reonomy was named an Entrepreneur Of The Year® 2020 New York Award finalist. Now in its 34th year, the Entrepreneur Of The Year program honors entrepreneurial business leaders whose ambitions deliver innovation,...
read moreBrad’s Blog – What Does CA Senate Bill 939 Actually Say?
There has been a lot of talk in the industry about the proposed CA Senate Bill 939 that interferes with leases between landlords and certain tenants. Since so many of our clients have asked about the bill, I decided to actually read the legislation since I could not find another source that explaine...
read moreOur RECon 2020 Recap
If this were a parallel universe, I would just be returning from the ICSC RECon conference where I would’ve just spent the last several days with 35,000 of my closest friends. But, understandably, due to the global pandemic ICSC had to cancel this year’s event. So instead the Progressive...
read moreService Providers Now Reign Over Retailers – Shopping Centers Today
It turns out the services business are sighing the brunt of shopping center leases. So concludes an iCSC report that analyzes U.S. Census Bureau data. The report shows that as of 2012, the share of serivces establishments in U.S. shopping centers had surpassed 50 percent....
read more