Last month, we were honored to have team members Randall Lewis and Ken Caron speak on the panel at the Annual Inland Empire Commercial Real Estate Conference. Hosted in Moreno Valley, this event featured speakers who shared insights on trends affecting commercial real estate. Throughout the day there were 4 different panels that were featured that spoke about lenders, multifamily real estate, retail real estate, and industrial real estate. Key information that was shared in regards to commercial lending included how higher construction costs, interest rates, and inflation are concerns being monitored.
Randall Lewis, Senior Executive Vice President – Marketing at Lewis Management Corp., spoke as a part of the Multifamily Real Estate panel. Issues and topics they featured during this panel included the high demand in the Inland Empire for multifamily projects, meanwhile rent continues to go up. As prices continue to increase across the board, some developers have been purchasing lumber ahead of time to lock in lower prices. Randall shared that Lewis is also in the process of building multiple build for rent projects that will be completed over the next several years.Ken Caron, SVP of Commercial Development for Lewis Retail Centers spoke as a part of the Retail Real Estate panel which highlighted several key trends. “What you’re seeing right now is more unique tenants coming into our centers and wanting space. I think the pandemic has caused that because most tenants want outside dining components now which is something we are offering in our new developments,” shared Ken. An exciting observation that is worth celebrating is that leasing activity is high, vacancy rates are down, and shopping center visitor traffic has recovered to pre-pandemic levels. We are excited for what the future holds for Lewis Retails and hope you head to our website to learn more about what we’re up to!