Report: Inland Empire rents to rise. Apartment rents, already high in the Southland, will even get higher. Occupancy rates, already among the highest in the country, will increase, too. That's the conclusion of the Casden Real Estate Economics Forecast that's out today from the Lusk Center for Real Estate at USC. There are too many people and not enough apartments, so prices will continue rising. In the Inland Empire in particular, rents are expected to rise by an average of 5 percent this year on the heels of a 4.7 percent hike in 2005. Blame it on the overheated housing market, said Delores Conway, director of the Casden Forecast. Click here to read more.
Inland Empire serves as bright spot in report. The six major Southern California counties have more manufacturing jobs than any other state in the nation, according to a report released Wednesday. Riverside, San Bernardino and Ventura counties will add 500 jobs this year, Kyser said. Los Angeles, Orange and San Diego counties are expected to lose 6,500 manufacturing jobs this year, he said. Cheaper land and the ability to accommodate expanding manufacturing companies has allowed Riverside and San Bernardino counties to add manufacturing jobs, Kyser said. Click here to read more.
Target will soon open its first California Super Target in Moreno Valley. In addition, two of the nation's most popular stores may open new outlets in Ontario. The city is considering a proposal for a 250,000-square-foot shopping center on Fourth Street near Milliken Avenue that would be anchored by both a Target and a Best Buy store. Ontario's recent history with big-box retailers such as Target and Best Buy is less than stellar. Fry's Electronics was poised to build a store on a 19-acre site in the city in 2004, but the deal fell apart when the city wanted architectural changes to the proposed building that the store didn't want to pay for. Also, a proposal to bring a Wal-Mart Supercenter to a site on Mountain Avenue (once occupied by another Target store) has run into entrenched community opposition. Click here to read more.
~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com
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