Western Real Estate Business

SEP 2018

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

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P U B L I S H E R S ' N O T E 4 • September 2018 • Western Real Estate Business www.REBusinessOnline.com We have a revolution on our hands or, at the very least, an evolution. There is no doubt ecommerce and omnichannel strategies have absolutely revolutionized the industrial market. This extends to all aspects, from researching and developing to assembling and storing to packing and shipping. This industrial revolution has been most prevalent out West where the region's vast infrastructure allows today's forward-thinking retailers to deliver their goods to and fro their customers in record time. Much of this activity is centered in Ne- vada, specifically in the Reno area. Michael Dermody, chairman and CEO of Dermody Properties, believes this city is so popular with industrial users because its central location allows a one-day turnaround to multiple states, including California, Or- egon and Washington. This has led com- panies like Urban Outfitters, Amazon and Marmot, among many others, to seek out logistics facilities in the region. The popularity of Reno is also a result of the tightening industrial market in South- ern California. Deals can still be found if you look hard enough and come ready to compete. The top players are clamoring for land in the Inland Empire where many hope to deliver state-of-the-art industrial facilities. Meanwhile, opportunistic inves- tors are eyeing Los Angeles. Most know they'll pay a premium for an older facil- ity, but many don't mind if they're able to carry out their value-add plans. Much of this industrial activity is tied to the retail sector as the demand of multiple shopping avenues and goods swiftly deliv- ered to one's door is now the new norm. As a result, many retailers are absorbing less space in shopping centers. This isn't neces- sarily a bad thing, as it allows developers to bring in a whole new wave of online-only tenants who also realize they cannot get by with just one shopping channel. So it seems the space is shifting nowa- days. Rather than losing real estate, many companies are simply switching their strategies. Some are focusing on build- ing their logistics strategies and presence, while others are adding retail storefronts to their current warehouse requirements. Industrial is benefitting from the demand for more space, while retail is benefitting from the demand for more online-only ten- ants. Jerry France Chairman & CEO/ Publisher Scott France President/ Co-Publisher INDUSTRIAL REVOLUTION FRANCE MEDIA, INC. EDITORIAL Jerry France .............................Chairman & CEO/Publisher Scott France ................................. President/Co-Publisher Michael Jacobs ............................... Chief Financial Officer Jaime Lackey .............................Vice President, Marketing & Digital Strategy Randall Shearin ...............................Senior Vice President, Editorial & Operations Matt Valley ........... Editorial Director, Real Estate Regionals Nellie Day ................................................................Editor Amy Bigley Works .................................... Associate Editor John Nelson .............................................. Assistant Editor Julie Hunt ...............................................Graphic Designer ADVERTISING Scott France ..................................................Co-Publisher Robin Reimold .............................................Media Advisor Craig McIntosh.............................................Media Advisor Ryan Nixon ..................................................Media Advisor Barbara Sherer ............................................Media Advisor ADMINISTRATION Teresa Hennington .....................................Office Manager Jim Clark ................................................ Advertising Traffic Vally Smith .........................................Circulation Assistant Western Real Estate Business (ISSN 1547–965X) is published monthly by France Publications, Inc., d/b/a France Media, Inc. Editorial and advertising offices are located at Two Securities Centre, 3500 Piedmont Rd., Suite 415, Atlanta, GA 30305. Telephone (404) 832-8262, facsimile (404) 832-8260. E-mail: western@francemediainc.com. POSTMASTER: Send address changes to: Western Real Estate Business, P.O. Box 47065, Plymouth, MN 55447-0065. Western Real Estate Business is a registered trademark of France Publications, Inc. Periodicals postage paid at Atlanta GA, and additional mailing offices. Subscription rates: USA 1 year $67; 2 years: $116. Single copies are $10.00. For subscriber services, including change of address or subscriptions, please email WREB@kmpsgroup.com or call (800) 869-6882. ©2018 France Publications, Inc. For reprints or to photocopy articles, please contact Barbara Sherer, manager of special advertising at (404) 832-8262. The opinions and statements made by authors, contributors and advertisers to Western Real Estate Business are not necessarily those of the editors and publishers. INTERFACE CONFERENCE GROUP Richard Kelley .................................. Senior Vice President Alicia Lewis ....................................... Conference Manager Michael Jax ....................................... Conference Producer September 2018 • Volume 16, Issue 1 is centrally located in the heart of Southern California and is less than an hour to everything SoCal has to offer including b eaches, moun tains, theme parks, Down town LA and Hollywoo d, desert playg rounds and more. With 177,000 residents and g rowing, On tario will n early double its population over the n ext 30 years, making it a top destination for shoppers and retailers in Southern California.

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