Shopping Center Business is the leading monthly business magazine for the retail real estate industry.
Issue link: http://shoppingcenterbusiness.epubxp.com/i/710880
CALIFORNIA 52 • SHOPPING CENTER BUSINESS • August 2016 buyers for retail assets for the past three to four years," says Hook. "In some mar- kets, over 75 percent of the investment dollars are from foreign entities. This is due to the fact that the United States is considered a safe haven for investment. It may be tailing off a bit, but I believe it's going to continue to be prevalent for years to come." Umansky notes that foreign capital has had an effect on many investors, moving many to place their capital in other parts of the country in order to obtain higher yields. "Southern California is dominated by individual investors that are capable of playing at the highest levels of the invest- ing game," says Umansky of Progressive Real Estate Partners. "It is very rare for a buyer from one of the other 49 states to buy in California, but it is very typical for Californians to buy in other markets. This is a reflection of the substantial amount of capital based here as well as the amount of foreign capital that has come into this market. As foreign money has come into the state, some Californians are taking their capital and placing it in other parts of the country in an effort to obtain a higher yield." Rick Rivera, president and CEO of Cen- ters Business Management, notes that — for single tenant assets — California 1031 exchange buyers are the predominant force in the market. "California 1031 ex- change buyers are driving the nation in single tenant purchases," says Rick Rivera. Del Sur Town Center, located in San Diego, contains a mixture of unique restaurants curated by Location Matters. M AY O R PA U L S . L E O N I M A Y O R P R O T E M D E B R A D O R S T - P O R A D A I C O U N C I L M E M B E R S A L A N D . W A P N E R , J I M W . B O W M A N A N D P A U L V I N C E N T A V I L A ontariothinksbusiness.com Ontario Mills partnered with the City of Ontario to continue to add an even greater selection of popular designer brands including Nordstrom Rack, Last Call By Neiman Marcus, and J. Crew Factory, further solidifying our prominent role as California's largest outlet and value retail shopping destination. Ontario is a City that thinks like a business. EXCITED TO BE PRESENTING AT THE 2016 RECON SHOW, VISIT US AT BOOTH C2228! Marc Smith VP/General Manager, Ontario Mills, a Simon Company Ontario Mills M A D E I N O N TA R I O