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    Large Tenants and Millennial-Driven Concepts Drive Retail Expansion and Investment in San Bernardino County
    April 30, 2017
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    San Bernardino County, CA (April 30, 2017) – Thanks to a growing population, especially in the millennial demographic, San Bernardino County is proving its attraction for retail expansion and investment.
    In its Q1 2017 Retail Market Report for San Bernardino County, CBRE notes that the region’s vacancy rate of 6.8 percent demonstrates continued improvement, down 130 basis points from a year ago. CBRE also reports 86,419 square feet of positive absorption and 184,000 square feet of new construction.

    “The data only tells part of the story. San Bernardino County has emerged as a lower cost option for young families and baby boomers who want more for their money and are being priced out of the coastal communities,” said Ryan Gast, associate, CBRE. “That’s why housing construction has been hot and in turn more retail expansion is occurring, especially in Victorville, Rialto, Ontario, Rancho Cucamonga as well as along the 210 freeway corridor.”

    While traditional retailers such as Burlington Coat Factory, Ross, and Bath & Body Works have expanded into the County, the greatest opportunity is the amount of new retailers choosing the County.  Big Al’s chose Ontario for its first California location and Cracker Barrel Old Country Store will open its first California location in Victorville. Punch Bowl Social and Jacks Urban Eats are new millennial-oriented restaurant/entertainment retailers at Victoria Gardens. Along with these new retailers, CIM Group is underway with a major renovation of the former Montclair Plaza into Montclair Place, planned as a new experiential retail destination with extensive outdoor plazas and food hall.

    “Retailers choosing the County now are planning for our growing millennial population. These new tenants are focused on providing greater entertainment options and choices,” said Reg Javier, Deputy Executive Officer of Workforce and Economic Development, San Bernardino County. “We love how it’s adding to the County’s lifestyle options that include quality affordable housing and great recreation.”

    Food halls are another exciting trend gaining traction in the County. There are a number of projects now planned in Redlands and Rancho Cucamonga as well as part of the new Montclair Place. These food hall concepts are designed to attract millennials and include options such as gourmet food markets, and retail space for food and beverage boutiques and retailers, as well as outdoor and indoor seating areas.

    The County will be at the ICSC RECon from May 21 through May 24 in Booth #S353S. For more information go to www.sbcountyadvantage, as well as follow the County on Twitter and Linkedin.

    About San Bernardino County: Located at the heart of Southern California, an economy of 23 million people, San Bernardino County is the largest county in the United States. Its vast borders stretch from the greater Los Angeles area to the Nevada border and the Colorado River encompassing a total area of 20,160 square miles. Comprised of 24 cities, San Bernardino County encompasses more than two million residents with a workforce of nearly 900,000. Its assets include an innovation corridor of close to two dozen colleges and universities supporting a strong, diverse workforce along with an unparalleled collection of roadways, runways and railways that lead to regional, national and international business centers. Visit www.SBCountyAdvantage.com.
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