Strong Retail Absorption Across San Bernardino County
Above Photo: Ontario Mills is one of the retail centers seeing positive retail absorption in Q2 2018.
San Bernardino County, CA – Retail continues to dominate the San Bernardino County landscape as job creation and new housing increases the region’s young population. According to CBRE, San Bernardino County posted 162,395 square feet of positive retail absorption in Q2 2018.
“San Bernardino County is at the forefront for new development in Southern California due to the amount of available land and the steady growth throughout the region. One area that has seen an influx in development over the past 12 to 18 months is the 210 corridor which is now home to the County’s first Wholefoods 365 and Renaissance Marketplace. San Bernardino County should be at the top of the list of areas of expansion for developers and tenants alike,” said Ryan Gast, Senior Associate, CBRE.
“Housing continues to be an important economic driver for the County. We have more than 100,000 housing units planned for the region to meet the demands of young families and individuals seeking an affordable quality Southern California lifestyle. The growth of local neighborhoods is helping to spur a great deal of development and introduction of new retailers as well as continued repositioning and renovation of existing shopping centers and malls,” said Reg Javier, San Bernardino County Deputy Executive Officer, Workforce and Economic Development.
There are many examples of new retail development in the County, including:
Renaissance Marketplace, a 60-acre shopping center in Rialto, developed by Lewis Retail, has welcomed its first six tenants: Cinemark Renaissance Marketplace and XD, 24 Hour Fitness, Five Below, Starbucks, Panda Express and 7-Eleven. Cracker Barrel also announced plans to add a new location in Rialto, marking its second in San Bernardino County having opened its first California restaurant in Victorville in 2017.
- San Bernardino County Retail Market Activity Leads in Southern California
- Rialto: Renaissance Marketplace Opens With First Tenants
High Desert Gateway West, a 152,7000-square-foot shopping center by Lewis Retail, located in the city of Hesperia. This center is positioned to serve the existing trade area as well as support future population growth recently adding Starbucks, Dickey’s, Jimmy John’s Gourmet Sandwiches and Fatburger.
A number of existing retail centers continue to be repositioned with more focus on experiential retailers to appeal to the County’s burgeoning millennial population.
Ontario International Airport (ONT) has worked toward culmination of a $6 million upgrade of its food and beverage concessions with high-profile and popular brands including Einstein Bros bagels, Rock & Brews restaurant, Wahoo’s Fish Taco and Wolfgang Puck’s WPizza. Cross Grain Brewhouse and Harvest & Grounds also began service.
- Rock & Brews Opens At Ontario Airport
- Ontario Airport Adds Cross Grain Brewhouse, Harvest & Grounds For Travelers
- Grand Opening: Wolfgang Puck, Einstein Bros. At Ontario Airport
Ontario Mills, owned by Simon Property Group, announced four new retailers, including sportswear powerhouse adidas, Japanese fashion brand MINISO, designer milkshake maker The Mug Shakes and interactive motion ride THE RiDE 7D. –
Montclair Place, owned by CIM Group, added more than 48,000 square feet of newly-leased space following the announcement of the new 55,000-square-foot AMC Dine-In Theatre currently under construction. New tenants announced are: The Canyon, a 17,500-square-foot music and entertainment venue; a 15,000-square-foot Forever 21, an 11,000 square-foot Kids Empire indoor playground; and Dubai-based Döner & Gyros set to open its first U.S. location in the mall’s food hall, Moreno St. Market.
“Our retail expansion continues because we are one of the most consistent areas of growth in the State. Investment is occurring across the County, even beyond the traditional neighborhood centers and malls. We even have an exciting collection of new retail brands moving into Ontario International Airport,” added Javier.
According to CBRE, the County had $138.17 billion in total 2017 retail sales and is currently at record low unemployment.
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.