Icsc2011 whereamerica'sfutureshops

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County of San Bernardino ICSC 2011 Presentation Where America's Future Lives, Works and Shops

County of San Bernardino ICSC 2011 Presentation Where America's Future Lives, Works and Shops

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  • 1. San Bernardino County Where America’s Future Lives, Works and Shops Kelly Reenders Deputy Director Economic Development Agency
  • 2.  
  • 3.  
  • 4. San Bernardino County: Market Profile
      • 24 Unique Cities & Towns
      • Largest County in the U.S. in terms of land area
      • The 12th largest County in terms of population in the U.S.
      • More residents than 15 U.S. States
      • 900,000 Plus Workforce
      • Young population: Median Age 31 years
  • 5.  
  • 6. Where Southern California Is Growing
    • Annual Growth Rate 3% (2000 to 2005)
    • SCAG forecasts that San Bernardino and Riverside Counties, will grow by 1.7 million between 2000 and 2020 - more than all but three states (California, Texas, and Florida)
    • Experts say a burgeoning Latino population and an influx of young families seeking less expensive homes is keeping the Inland area's population among the youngest in the state
  • 7. San Bernardino County Retail : Positive Momentum !
    • Vacancy Rates:
      • Leveled out – remained at 11% over the last 3 quarters
      • Decline in vacancy rate from 1 st Quarter 2008
    • Net Absorption:
      • 1 st Quarter 2011 witnessed an improvement from the previous quarter , posting 24,730 square feet of POSITIVE net absorption
      • EXPANSION among stronger tenants is helping pave the way for a slow and steady rebound
  • 8. San Bernardino County Where the Future Lives:
    • Housing Starts:
      • 929 annual starts in the County - 6.3% increase from the previous year
      • 430 Sub-divisions are currently under construction
      • Home Sales are expected to increase
      • Foreclosures are falling at a steady rate
      • Personal income to increase 7%
  • 9. Opportunity from Emerging to Mature Markets
      • WEST END : Ontario, Rancho Cucamonga, Chino Hills – infill, vertical development occurring
      • EAST END: Fontana, Rialto, Loma Linda -- traditional community expansion, developable land, more population growth and expanding housing tracts
      • HIGH DESERT: Adelanto, Apple Valley, Victorville -- remains affordable, opportunity for service-oriented retailers, restaurants, market prime for re-building
  • 10.  
  • 11. San Bernardino County Where Retail Works:
      • Reinvestment in Ontario Mills, Ontario
        • 1.7 MSF Shopping Destination; Attracts 23 Million Annually
        • Added stores during downturn: Coach Mens, Tommy Bahama, Betsey Johnson, Foreign Exchange, J Crew
        • Major Re-Investment - Adding Sports Authority, Expanding Forever 21 and Burlington Coat Factory
        • Adding even more: First Lacoste outlet location
  • 12. San Bernardino County Where Retail Works:
      • Strength of Existing Retailers, Luxury
        • Victoria Gardens 1.4 MSF Open Air Town Center
          • Rancho Cucamonga
          • Adding Toby Keith’s I Love This Bar & Grill .
          • Strength of Flemings, Cheesecake Factory
  • 13. San Bernardino County Where Retail Works:
      • Strength of Existing Retailers, Luxury
        • Shoppes at Chino Hills, Chino Hills
        • Citrus Plaza, Redlands
      • Discounters Expansion
        • Wal-Mart and Target adding grocery, expanding concepts
        • Dollar Tree, WinCo adding stores
    RMA Photography
  • 14. Retailer Momentum
      • Retailers are moving to where they can:
        • Service a large and growing population
        • Service a population with greater disposable income
        • Leverage population’s affordable quality of life
        • Access the 22 million Southern California market
      • Inland Southern California's booming Hispanic population
        • Has spurred the growth of new business serving the Latino community,
        • More companies seek to tap into the community's growing economic clout.
  • 15. Retailer Momentum
    • Decathlon (2 locations)
    • Cinetopia (New)
    • Forever 21
    • Sports Authority
    • Toby Keith’s I Love This Bar & Grill
    • Embassy Suites
    • Mercedes Benz
    • Lacoste Outlet
    • Coach Men’s Factory
    • Betsey Johnson
    • 99 Ranch Market (Expanding)
    • Cardenas (Expanding)
  • 16. Land values map
  • 17. Our Commitment to YOU
    • Developer, Retailer, Investor…The County wants to work with you
      • Communities are pro-development (limited NIMBYism)
      • Redevelopment funds used pro-actively to support development
      • Young and emerging markets of opportunity
      • Demographics, market studies and other support
      • Assistance with hiring and on-the-job training available
  • 18. Catch the Buzz… www.sbcountybuzz.com Kelly Reenders Deputy Director, Economic Development [email_address] (909) 387-4358