Category Archives: Retail Real Estate

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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Commercial Real Estate News Brief: April 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, Detroit combines auto and tech industries for resurgence, and JLL leads by example in best practices for corporate office space and capital planning.

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

Detroit: No Longer Just the Motor City

JLL CRE News Brief

Detroit has always been known as the Motor City. But, as more and more young tech professionals flock to Detroit, the city’s identity evolves. Crain’s Detroit Business suggests that, in addition to automotive resurgence, the city is also becoming a national hub for technological innovation.
JLL research would agree, ranking Detroit among the top 34 high-tech markets in its latest High-Technology Office Outlook.

Luckily for Detroit, automotive technology is more sophisticated than ever before. In fact, companies like Google and Apple are developing autonomous cars. According to the article, “the auto industry has morphed into something very new, very different and very high tech.”

As Detroit’s tech industry grows, alongside an evolving auto industry, “Detroit is ready to drive itself to new levels of excellence and entrepreneurship on the brand-new road ahead,” according to Crain’s.

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Calling All Business Owners & Tenants: Should You Own or Lease?

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By: Rob Roe, Managing Director, JLL

JLL_Invest_Spend

There is no blanket response to the question, “Which is better for business, owning or leasing property?” Every business’ unique structure and qualities must be assessed to determine the right path.

What’s more, the decision has potential to have a disastrous (or extraordinary) effect on bottom-line business success.

Traditionally, business executives, like CEOs, CFOs or treasurers, made the own/lease decision. In recent years, however, corporate real estate directors have played a larger role in the process. Regardless of point person, expert insight is a must when it comes to one of the largest expenses within your budget.

Are you at the crossroads of purchase or lease? Read on for more insight on smart decision-making.

Starting Point: 3 Business Benchmarks

As you begin the process, there are three key benchmarks to consider. Ignore your initial preference, and keep an open mind. The following factors may sway your line of thinking and lead to a smarter decision-making in the long run.

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How Low Gas Prices will Impact the Office Market (SLIDESHARE)

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By: Dan Adamski, Managing Director, JLL

For the first time in years, filling up isn’t getting us down.

Diesel prices sitting below $3 are welcomed by consumers, especially as the holidays arrive. In June of this year, gas prices reached $3.68. Now, they’re as low as $2.73, according to AAA. The drop in gas costs hit quickly, and its impact on multiple industries varies.

The Situation: Oil Prices Fall Worldwide

For the first time in five years, the price of one barrel has dipped below $70, which is down from more than $100 per barrel in the last five months. Causes for the drop in costs include:

  • Excess supply and little slow down in production
  • Drop in overall demand, due to slower economic growth in China and lower levels of oil consumption in Europe
  • Strict fuel standards (good news for the environment) and a sharper focus on energy efficient practices

The biggest cause, however, is supply. There are three million more barrels a day in the global market now than there was in 2011. Combined with a new focus on sustainability and weaker demand, it’s no wonder that prices have decreased.

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Commercial Real Estate News Brief: November 2014

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Commercial real estate is a dynamic industry. Keep up with Spaces’ monthly recaps of the most valuable industry articles we’ve recently come across, focused on news in Ohio, Michigan and Pennsylvania.  

Calling All Brick & Mortar Retailers: Tips to Stay Competitive (VIDEO)

E-commerce has forever changed the face of retail. So much so, in fact, that many brick and mortar retailers are asking, ‘What is the modern role of physical retail space?’ 

With more and more choices available to consumers online, retailers will need to bet on a brand experience (online and in-person) that differentiates against the competition. JLL research suggests retailers also maximize in-store value through innovative architecture, strong brand identity, positive economic responsibility and flexibility when it comes to technology and change.

How can your brick and mortar store outpace the competition? Check out JLL’s video for more information on the redefined landscape of retail.

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Retailers Ring in the Holidays with a Focus on In-Store Customer Experience (REPORT)

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By: JC Pelusi, Market Leader, Managing Director, JLL 

JLL HolidayDeloitte reported that total holiday sales are forecasted at $981 to $986 billion, up from $602 billion spent last year, according to the NRF. That’s a lot of potential business—and competition—for retailers.

Not surprisingly, new data from JLL’s 2014 Holiday Sentiment Report found that 77 percent of retailers still feel the holiday season is their most critical time. The survey, which includes feedback from more than 800 national and global retailers in JLL-managed shopping centers across the country, also found that the number of in-store shoppers is expected to increase, or remain stable, this year. 

Why does it matter? Retailers have the chance to compete with e-commerce, and create a charming, memorable customer experience.

JLL’s survey revealed a few ways in which retailers are going above and beyond this holiday season.… Read More