Tweet I consider myself to be fairly competent in matters concerning retail commercial real estate. It is a rare occasion when I am completely unable to grasp even a basic understanding of a concept or characteristic relating to any particular property. Today I find myself in exactly this position. The graph below has me completely [...]
Tweet Fresh & Easy has announced that they are closing 13 stores in the Las Vegas (6 closings), Phoenix (6 closings) and Inland Empire (1 closing) markets. This represents about 8% of the 168 total Fresh & Easy stores. I guess its a good sign that they are willing to pull the plug on underperforming [...]
Tweet The Phoenix Business Journal published a not-so-surprising article this past Friday about the state of retail shopping centers in the Phoenix MSA. The article paints a dismal picture for the state of retail in Phoenix. According to David Wetta, director of Marcus & Millichap’s national retail group, there are 1,753 retail properties in the [...]
Tweet Just got this email from a friend this morning. Not much commentary necessary other than to say that a picture is worth 1,000 words. Here’s the email: I don’t know if you got this loopnet blast but it is one of the funniest things I have ever seen. Below are two different blasts that [...]
Tweet Here is an email flyer I got yesterday. These guys are trying to sell 30 acres of raw land for commercial development in Murrieta in a “C” location (on its best day). Who is buying 30 acres for commercial development in Murrieta right now? I don’t know anyone with that strategy in their business [...]
Tweet DealBook has an article up today about the office sublease market in NYC and the impact lower offering rates are having on space offered directly by building owners. Every time I read about NYC rents my head just spins. The numbers are just astronomical. According to the article, average asking rents for Class A [...]
Tweet Vitamin Shoppe has just completed an IPO, raising about $155 million. You can read more about it at DealBook. What I thought was most interesting was the fact that this was first I.P.O. by a traditional retailer since December 2007! The proceeds from the offering are being used to pay down debt and to [...]
Tweet This is just a quick follow-up post about Fresh & Easy. I mentioned in my last post about Fresh & Easy that I had recently heard radio advertisements for F&E. Well coincidentally, I spotted a Fresh & Easy skyscraper ad on the home page of 89.9 KCRW while looking up the name of a [...]
Tweet I received a marketing brochure today that, quite frankly, left me a bit shocked. The property is a multi-tenant retail building in a power center in Southern California. The shocking part of the offering was that the seller and broker were NOT attempting to capitalize income from the vacant suites. Maybe CRE practitioners are [...]
Tweet Calculated risk put up a post yesterday about a topic that is near and dear to my heart: the Inland Empire commercial real estate market. In summary, the retail vacancy rate continues to rise in the Inland empire. I also thought it was humorous that the primary source for this data was CB Richard [...]
Tweet The package embedded below (see update below) just came across my desk today. It is an offering for a shopping center in Moreno Valley, CA (Inland Empire). The property consists of three ground leased fast food pads (El Pollo Loco, Del Taco and Wendy’s) as well as approximately 22,670 square feet of retail shops [...]
Tweet I went out to the Inland Empire this morning to look at a recently developed retail center. The center is market anchored and has built-out shop space and a few national tenants operating on pads. The shop space is approximately 90% vacant. Here is a photo of the interior of one of the shop [...]
Tweet Vineyard Bank of Rancho Cucamonga, California and Temecula Valley Bank of Temecula, California have become the 56th and 57th bank failures respectively in the US this year. California Bank & Trust of San Diego, California will assume the deposits of Vineyard Bank and First-Citizens Bank and Trust Company of Raleigh, North Carolina will assume [...]
Tweet This guest post is written by Thomas Galvin of Colliers International. Thomas is a commercial real estate analyst for Colliers International with a regional focus on the Inland Empire. You can learn more at his commercial real estate economic blog www.inlandecon.blogspot.com. The lifeblood of retailers are consumers. The industry adage that “retail follows rooftops” [...]