Kevin Breve-Regional Marcus & Millichap Regional Manager
Alexander Garcia Jr Marcus Millichap SVP
Robert Hallock- SVP- Acquistions Bridge Investments LLC
Mark Grace- VP Capital Markets- Walker & Dunlap
10,000 a day turning 21 or to a baby Boomer.
Inland Empire- Top 10 in forecasted demand in US. Highest Growth opportunities- (multi-family)
Buy in IE for 5% Cap Rate or better.. 9 (Favorable)
Huge growth in IE, with apartment communities with all the amenities. (exercise, pools, halls and more. Low maintenance)
Velocity now vs Past cycles- Still quite a bit of opportunity to grow. Current numbers in markets are strong!
Thinking to loan opportunities and risks East of the 15 freeway years ago, now the possibilities seems wide open for growth!
IE Ranked in top 10 in Job Growth!
Baby boomers top prospects moving to Multi-Family!
Rents are about $100 more per month and Interest Rates are significantly lower.. Apartments are profitable.
Growth Opportunities are great and margins are in the IE. It will continue to drive growth in!
Panelist believes growth is on the horizon for 3-5 years..
Greg Devereaux- SB County County Administrative Officer
Growth Opportunities and Commitments
Prado Dam Area- Large Plans and investments
Foothill Developments- Rancho/ Upland Communities
Chino Airport Growth and Opportunities.
Huge Growth and Commitment to Downtown San Bernardino
Joseph Brady- Branco Companies
Mining drives big jobs, and opportunity and mining is a huge driver in the High Desert. Logistics, and opportunity is still in marketplace in High Desert Communities.
Adelanto- Marijuana Cultivation Capital of the County
Logistics Opportunities- Buildings, and opportunities
BNSF- Looking to build large railroad switching yard in the High Desert. This will be able to help feed trains to as long as 3 miles long. Huge add to logistics divisions.
I-15 corridor, Estimated to be complete shortly, and is relief to the largest bottleneck on the West Coast of goods from the port to the rest of the US. Congestion relief is expected to help bring growth and around the region!
High Desert in need of High Paying jobs. Looking to incentivize business to move to the HD!
John Bibeau- Cushman Wakefield
Michael G Rademaker- MGR
David Mudge- Lee & Associates
Market is improving, show the space and you will fill it.
Most space in IE are filling up from diverse markets. Niche products like that which MGR owns and manages are 97% full.
Largest tenants, Healthcare, Schools,
Office vacancies. Low was at 27% Available, Current rates are about 15%, improvement yet still room to grow.
Construction is expensive and most growth seems to currently be in building acquisition, and rehab. Spec development is a challenge due to regulation, and costs. Rates need to be $2.35- $2.50 to justify constructing new buildings
Leasing Cycle: last three years feeling of false starts. 1st qtr absorption showing great strength this year. If we can hold for 12 months, growth will be exponential. Popular belief is we are 3/4 to a complete recovery in the commercial markets.
Large Opportunity Markets currently, San Bernardino/ High Desert
Ontario Airport impact will be tremendous, and business and industry demands easy access to air travel for corporate reasons. Industry is dependent around efficiency. Autonomy at the airport and airfares will be a huge driver for the IE looking forward!
Non-Financial Trends in IE: Tightening on the spaces available. Change in how workplaces are setup, and designs on workspace.
“Creative Office Space“
Attracting millennials and the up coming workforces from the beach communities..
Regus “Esque” Workspaces continue to drive trends in commercial space..
Shared Desk Concept. Smaller offices are the way of future?
Where are we on the investment cycle? Consensus: Early on
Expectation: Ceiling looking towards $2.35-.50 a foot.. Current rents about $2.00..
My family has a story of challenge and adversity, and we don’t know how we would have been staying so strong without the support and love of so many all around us! Focusing on what we are most grateful for in such a time of loss. We have felt His love just reigning down upon us. I feel as if our Father above has been preparing me for years, and now its time for my family and I to trust in Him, and now to share the experiences we have been having as we walk in Faith. This message may not before all, but thats okay.
We are not called to do this journey alone. We are instructed where 2 or 3 are gathered.
What is your support system? Are you plugged in? Do you lean on Him for strength? Questions? Guidance?
I sure do, and we have truly been experiencing His love. Very truly I tell you, I have been experiencing it, and feeling His presence almost daily.
Be it and ear or a place to turn you can always call me, or find a small group, one you can plug into, and truly grow. Find a place to actively grow in your Faith and be bold! Unafraid to come along side people out of LOVE. His Greatest gift.
Who would have thought such a small, young girl could have had such a profound impact. Baby Charlie, I love you and hope Papa, and the big guy are taking great care of you!