Monthly Archives: August 2015

Back-to-School Shoppers Choose Retail Over E-tail [New Survey]

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By: Mary Bresnahan, Vice President with JLL and Melissa Ruther, Vice President with JLL. 

It’s that time of year again: school is back in session.

Retailers have already geared up for the school year, and back-to-school (BTS) shoppers are taking full advantage of new offers. Surprisingly, most activity is happening in-store this year.

According to a new JLL survey of more than 2,000 domestic consumers, 88% planned to head to the store for their BTS shopping. Roughly 45% had no intentions of shopping online for supplies, and another 30% didn’t plan to shop online for BTS clothing.

Even though school is officially in session, BTS shoppers aren’t finished. JLL’s survey found that most consumers (65%) start to shop within a month of the first day of school.

Tweaking your strategy for the rest of the shopping season? Read on for more survey insights.

Supercenters Winning the Race

When it comes to office supplies, supercenters are the dominant choice. In fact, an overwhelming majority (98%) indicated they would stop at a supercenter like Target or Walmart. When it comes to new clothes, however, department stores were the first choice (91%), followed closely by supercenters.

The caveat? Supercenters may be leading BTS shopping, but consumers are still weighing their options. JLL’s survey found that more than 60% plan to stop at three to five superstores “most likely to compare prices.”

JLL Retail

JLL Retail

 

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Commercial Real Estate News Brief: July 2015

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In the latest edition of our monthly news brief, JLL’s regional team curates the top industry articles to keep you in-the-know. In this month’s edition, JLL spotlights rooftop real estate, the impact of heightened CRE investment worldwide, and JLL’s new client-centered data and insights platform, RED.

Keep up with Spaces’ monthly recaps, and subscribe to JLL Spaces today.

Restaurants & Tourism Attractions Are Going Up … Literally

From cocktail lounges to touristy observation decks, more sky-high entertainment spots are popping up across New York City. According to the New York Times, “Builders and developers are tryinCleveland rooftop g to squeeze more money out of their real estate by taking advantage of one of their last available spaces: their rooftops.”

Zagat recently published a list of 10 Hot Rooftop Scenes in NYC, showcasing the swankiest places to grab a cocktail, including the Whitney Museum of American Art and the Knickerbocker.

The rooftop trend is also picking up in secondary markets throughout the Midwest. One of Cleveland’s hottest hotels, The Metropolitan at the 9, recently opened Azure (right), a rooftop bar featuring VIP seating and unprecedented views of downtown. The Pittsburgh Tribune also highlighted a list of patios and breweries built high above the city’s rooftops asking, “Hey, where are we? Is this Manhattan? The Loop in Chicago?”

While Midwest rooftop attractions may offer urban views and trendy menus, Pittsburgh and Cleveland locals will not likely have to choose from a list of $20 mixed drinks at their favorite rooftop spot. The Pittsburgh Tribune said it best: “You can get big-league amenities and food without the big-city rents and stress.”

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New, Million-Square-Foot Warehouse in Columbus Shows Continued Industrial Market Growth

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By: Dan Wendorf, Executive Vice President, JLL

Columbus is the industrial envy of other Midwest markets, with more than 219 million square feet of industrial space. And now—with just one new development—Columbus is adding another million to the books.

NorthPoint Development and JLL recently broke ground on a one million-square-foot warehouse in the Rickenbacker submarket of Columbus. See what’s happening now in Clayco’s real-time construction webcam.

NorthPoint Development

NorthPoint’s location selection was not on accident. Throughout Columbus, vacancy is down and demand is up, according to JLL Research. Columbus is the prime location for the brand new warehouse.

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