Extended Outlook for Riverside-San Bernardino Apartment Sector Remains Positive

ONTARIO, CA— Although apartment properties in the Inland Empire will likely experience a slowing in renter demand this year, the metro’s extended outlook remains fairly optimistic, according to a first-quarter Apartment Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

(Top left photo shows San Bernardino night skyline.)

While the region’s high rate of single-family housing foreclosures is increasing competition, some of these displaced residents will undoubtedly end up transitioning to apartment properties.

“The investment outlook for the Inland Empire apartment market remains healthy despite tightening lending criteria and the current supply/demand imbalance,” says Douglas McCauley, (photo at top right) regional manager of the Ontario office of Marcus & Millichap.

Following are some of the most significant aspects of the Riverside-San Bernardino Apartment Research Report:


· Builders are expected to deliver approximately 800 units by year end.

· Vacancy is forecast to end the year at 7.5 percent.


· Asking rents are expected to push up 1.9 percent to $1,068 per month.

· Effective rents will reach $1,027 per month, a 0.2 percent gain.

· The first phase of the redevelopment of George Air Force Base in the Southern California Logistics Centre, scheduled for completion in 2008, is projected to add approximately 13,000 direct and indirect jobs to the region.

For a copy of the complete Riverside-San Bernardino Apartment Research Report, as well as reports on other markets nationwide, visit our website at http://www.marcusmillichap.com/.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716