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Retail Booms in Inland Empire

Connect Inland Empire is planned for Wednesday, October 18th. Here’s where to register for the conference.

Contrary to popular belief, brick-and-mortar retail activity remains strong, particularly in the Inland Empire. A recent CBRE review of year-to-date retail lease transactions shows since the beginning of the year, nearly half a million square feet of retail space leased in the Inland Empire region.

Despite recent bankruptcies such as Toys R Us, consumer sentiment is at a 17-year high. And brick-and-mortar performance runs counter to a perceived big shift to e-commerce, which is growing, yet only accounts for 9% of total retail sales in the U.S., with half of that figure attributed to online sales from brick-and-mortar chains.

Key report findings:

  • Supermarket chains accounted for nearly one-fourth of the leasing activity (roughly 125,000 square feet), including ALDI and Sprouts, which opened several new stores over the past 12 months
  • Discount retail chains leased a little more than 100,000 square feet this year alone, while small medical tenants also took  a significant portion of retail space
  • Community centers remain a pricier option, but leasing activity totaled 242,519 square feet in this quality-space type
  • Big Box space resurged with vacancy dropping to 7.9% for the first time in years, due to new tenants in the market and landlords willing to find alternatives for vacancies to satisfy the needs of smaller tenants

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.