Category Archives: Retail Real Estate

Commercial Real Estate News Brief: July 2017

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Every month, JLL’s regional team curates the top commercial real estate industry articles to keep you in-the-know. In this month’s edition, JLL spotlights mixed-use retail strategies, the transformation of healthcare real estate, and the rise of retail drones.

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Modern Shopping Centers Require a Mix of Space, Place and Management

With some 109,500 shopping centers located in the U.S., more retail property managers are beginning to realize the value of using strategic designs to improve the shopping experience. Competing with e-commerce companies and physical retail spaces, managers must now seek new ways to create an environment where customers want to spend money without making the experience seem artificial.

In efforts to stimulate future developments, the Van Aken District in Cleveland began transforming its former transit hub into a vibrant, transit-oriented mixed-use space. The project is expected to bring over 100,000 square feet of retail space, 60,000 square feet of office space, a parking garage and a residential apartment complex to the city by 2018.… Read More

Commercial Real Estate News Brief: May 2017

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Every month, JLL’s regional team curates the top commercial real estate industry articles to keep you in-the-know. In this month’s edition, JLL spotlights retail store experiences, startup work styles and how to tap into today’s talent pool.

Keep up with Spaces’ monthly recaps—subscribe today.

Brick-and-Mortar Retail Stores Create Customer-Centric Experiences

With today’s retail landscape more competitive than ever, traditional brick-and-mortar retail stores, malls and shopping outlets are finding new ways to attract shoppers. In order to pull shoppers away from online shopping, malls in particular are focusing more on the shopping experience, rather than sales or discounts.

To expand their offerings, developers have begun adding restaurants, activity centers, movie theaters, pop-up shops and more to deliver on an all-in-one experience.

Some malls and shopping centers are turning to events to attract shoppers. Food truck festivals, concerts, and carnivals are becoming more common. These events can generate as much as $60,000 in revenue per year for malls. Physical retail stores and malls hope these events give shoppers an experience that online shopping can’t match.… Read More

Louisville Market Commercial Real Estate News Brief: April 2017

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting the Louisville market to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

Retail and Industrial Developments Gain Momentum in Louisville

Courtesy of JLL

A number of new development projects are in the pipeline for downtown and metro Louisville. Among those include a new distribution center and a retail development.

Illinois developer, Molto Properties, announced plans to construct a new distribution center in the Renaissance South Business Park. Molto Properties has already accounted for more than 1 million square feet of space within the business park. This new warehouse and distribution property would add an additional 677,160 square feet to their portfolio.

Construction of a 363,000-square-foot retail and lifestyle center has also begun in SouthPointe Commons near Fern Creek. The property will include a big box store, a movie theater and restaurants. Upon completion, the project is expected to create nearly 560 permanent jobs in the region.… Read More

Commercial Real Estate News Brief: February 2017

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles to keep you in-the-know. In this month’s edition, JLL spotlights executives’ optimism within the industry, varying supply rates and the changing retail landscape.

Keep up with Spaces’ monthly recaps—subscribe today.

New Survey Highlights CRE Executives’ Optimism on Industry Outlook

JLL CRE News Brief

Newspaper image via NS Newsflash.

New research released by KPMG LLP finds just over half—52%—of commercial real estate (CRE) executives believe improving real estate fundamentals will be the largest driver of their firm’s revenue growth this year.

A number of factors contribute to the overall positive outlook for executives, including an expanding economy and consistent interest in Class A properties in the U.S. Following the 2016 presidential election, financial markets are also expected to loosen, which will likely improve capital flow.

With improving financial markets, many companies are also expecting their real estate investment to increase. Approximately 22% of companies anticipate an increase between 5 and 10%. Due to an overall positive outlook in foreign investment, new investment in real estate will come from both existing investors and new market players.… Read More

2016 Holiday Shopping Expectations Reach New Highs [Survey]

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By: Arthur Itkis, JLL Vice President, Retail

The holiday shopping season is in full swing and this year retailers are gearing up for a busy season. As the U.S. economy continues its upward climb, it’s not surprising that holiday sales will follow. But, to take a more holistic look at holiday shopping behavior, JLL research surveyed both shoppers (about 2,800) and retail managers (roughly 300) for the 2016 Holiday Forecast.

Read on for top trends from this year’s report.

Wrap Up the Year with Peak Spending and Sales

Compared to 2015 holiday spending, JLL experts are calling for a hefty increase this year—4% to be exact. In fact, 66% of shoppers intend to spend up to $750 on holiday gifts this year.

The Baby Boomer generation reported that they will spend the most this season, with 54% of their demographic spending more than $750 on holiday gifts. Comparatively, millennials have the lowest holiday budget; most plan to spend between $251 and $500. Millennials say low prices is the most important factor when considering holiday gifts, whereas Baby Boomers and those over age 70 reported quality as the most important factor.… Read More

JLL Investment Research Highlights Trends in Office, Industrial & Retail

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By: Andrew Batson, Manager of Research & Analysis, JLL

In 2015, the U.S. industrial sector exceeded the office sector as the largest recipient of offshore capital for the first time. Ever.

In fact, foreign investments across cities, submarkets and sectors, are affecting transaction structures nationwide. According to the Q4 2015 Investment Outlook Report, “With $71.7 billion of cross-border transactions, this investment surpassed the former 2007 peak of $40.7 billion by 71.6%.”

JLL Investment Outlook

The 2016 outlook should include a focus on primary markets, followed by a steady, selective variation of outsider capital interest into other market segments. But, as JLL suggests, “the offshore buyer pool remains strong and is growing.”

Read on to learn how strong economic and leasing performance benefitted the office, industrial and retail sectors in 2015. As a bonus, check out major investment highlights from the Great Lakes region in each property type.

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Retailers: 2015 Holiday Shopping Revenue Looks Merry and Bright (REPORT)

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

The 2015 holiday season is projected to be merry and bright for retailers across the country. JLL recently conducted its annual Holiday Sentiment Report, which revealed retailers’ expectations and preparations for the upcoming holiday shopping season.

So what’s so special about this year? For one, the U.S. unemployment rate is at its lowest since 2008, which means more spending money for shoppers.

The calendar also plays a significant role in influencing consumer shopping patterns this year. With Christmas falling on a Friday (the first time this has happened since 2009), 71% of retailers predict after-Christmas shopping will boost holiday sales. The shopping season is also longer this year, with the time between Thanksgiving and Christmas extended by one day. The majority of retailers (68%) expect the extra day to have an impact on sales.

Holiday

Among the hustle and bustle of what looks to be a promising holiday season for retailers, how can your shop stand out and make a splash? Below we’ve identified three tips that will help drive sales, increase foot traffic, and unify the in-store and online shopping experience.… Read More

Will Black Friday Ever Come Back?

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Editor’s note: This post was originally published on JLL’s Retail blog.

By: JLL Retail

There’ll be fewer Tryptophan-induced food comas for many this upcoming Thanksgiving weekend. Nearly one-third of retailers surveyed by JLL say they plan to open on Thanksgiving Day in order to get a jump on Black Friday sales. JLL’s 2015 Holiday Sentiment Report, which includes feedback from largely national or global retailers in JLL-managed shopping centers across the United States, also reveals more than half of those retailers expect an uptick in shopper traffic this year.

“Each year the holiday season seems to come earlier and the doorbuster deals get bigger. Black Friday creep into Thanksgiving mealtime is a very real thing,” said Greg Maloney, CEO of Americas Retail, JLL. “Holiday retail sales are anticipated to increase slightly over last year, and we’ll likely see sales trickling in even earlier in the days leading up to Black Friday. Retailers want to have first crack at customers’ wallets; the earlier they open, the more chance they have of capturing shoppers’ dollars.”

JLL Retail

 

 

 

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Announcing The Grand Opening of Mixed-Use Metroplex, Liberty Town Center

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By: Todd Pease, Vice President, JLL

Today, the long-awaited Liberty Town Center officially opens to the public. Grand opening festivities include live music, fireworks, yoga, among others, and will stretch through October 25.

Beyond opening weekend events, the $350 million, 100-acre center will be the focal point between two merging cities, Dayton and Cincinnati. The emerging mixed-use metroplex includes retail, restaurant, hotel and residential space—as it perfectly meets the needs of a growing millennial employee base.

Steiner + Associates partnered with Bucksbaum Retail Properties, and office developer, Daimler Group, to build Liberty Center. Names ring a bell? Steiner also co-developed Easton in Columbus, one of the top most innovative malls in the world.

Read on for what to expect during your next visit to Liberty Center.

Opening

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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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