By Staff Reports
(Victor Valley) —In a nod to rebranding efforts by various community and civic leaders, CoStar Group, the leading global provider of commercial real estate information, analytics and online marketplaces, has designated the “Mojave River Valley” as a submarket, under the Inland Empire market listing for its commercial real estate listing platform.
“CoStar is the premier listing platform used by commercial real estate brokers throughout the country, and from an economic development perspective, this puts the Mojave River Valley on the map,” said Joseph W. Brady, President of Bradco Companies, and a member of the Mojave River Valley Alliance. “We’re appreciative of CoStar for listening to our local commercial real estate community who are excited about the Mojave River Valley rebranding efforts.”
Since March of 2019, the Mojave River Valley Alliance has been promoting the positive rebranding of the High Desert in order to distinguish the region from other “High Deserts” across the state and country. They have accomplished this through speeches to business and community groups and outreach on social media, and in October of 2019, the City of Hesperia became the first city to officially adopt the Mojave River Valley brand.
Commercial Real Estate brokers access CoStar’s property level data, including vacancy, rents, sale & lease comps, tenants, and more, for any multifamily, office, industrial or retail property. CoStar offers a full inventory of properties and spaces searchable by market and submarket, with hundreds of details on each one.
Previously, the subregion which included cities like Victorville, Hesperia, Apple Valley and Adelanto, had been listed as “San Bernardino North” and will remain within the greater “Inland Empire” market listing.
“We recently had the chance to reevaluate how we were identifying our submarket regions, and by changing it to the Mojave River Valley, we were able to adopt a name more reflective of the area,” said Rafael De Anda, Senior Market Analyst for CoStar Group.
Another change that was made was including Barstow, which had not been in the same submarket listing as the other cities, will now be included in the Mojave River Valley subregion.
“CoStar believes in listening to commercial real estate brokers who are on the ground and making sure that we are reflecting changes that are happening in real time,” said David Padilla, Regional Director for CoStar Group