GlobeStreet reports that Rancho Cucamonga is in the midst of “retail transformation.” Significant population growth has resulted in both residential and retail development in the city, and further demand is expected—including in the vicinity of the Victoria Gardens Mall.
According to Blake Kaplan, a JLL associate interviewed by GlobeStreet, “Rancho Cucamonga is one of the hottest submarkets in the Inland Empire.” Kaplan points to an increase in restaurant, entertainment and office uses, driven by an increase in residents moving to the area. He credits the Victoria Gardens Mall (which opened in 2004) as the catalyst that demonstrated to developers that the area was primed for investment. He also identifies an influx of higher income households as aiding retail growth, along with access from “[m]ultiple neighboring freeways.”
GlobeStreet’s report concludes with a nod to the continued American desire for home ownership, which appears to be one of the factors driving population growth in the area. Even for professional athletes, the Inland Empire continues to serve as a lower-cost alternative to living in the heart of the Los Angeles metropolis. So long as that continues to be the case, Rancho Cucamonga’s retail transformation seems likely to continue.