On behalf of a joint venture between a global investment management firm and Bayer Properties, JLL’s Capital Markets experts today announced the firm has completed the sale of Inverness Corners and Inverness Plaza, two open-air shopping centers in Birmingham, Alabama. Branch Properties purchased Inverness Corners, a 236,444-square-foot center shopping center anchored by Winn-Dixie and Kohl’s, and Inverness Plaza, a 74,818-square-foot shopping center… Read More
In the first half of 2016, Florida’s retail sector witnessed tremendous positive leasing momentum with room to run before any clouds roll in and the market contracts, according to JLL’s Florida Retail report launched today at ICSC’s Florida Deal Making Conference. For the first time since 2008, the top 14 Florida retail… Read More
More than 30 years ago a man named Tommy Hilfiger changed men’s apparel by modernizing the standard button-down shirt and chino pant into fitted and designed apparel. It hallmarked the movement of bringing classic “American cool” to the world, and today Tommy Hilfiger ranks as the top global retailer with stores in 94 percent of the top 140 cities around the world, according to JLL’s Destination Retail 2016 report. The report… Read More
JLL today announced it has strengthened its retail client services in North Texas with the addition of industry veteran Tom Salanty. Salanty joins the firm as a Managing Director and brings more than 30 years of experience in retail investment sales. In his role, Salanty will bolster the firm’s retail practice throughout North Texas, partnering closely with Managing Directors Adam Howells, Randy… Read More
JLL today announced that the firm has secured four leases on the ground floor of 1407 Broadway in New York City. The four new-to-market food concepts, ’wichcraft, Luke’s Lobster, Gregory’s Coffee and Juice Generation are all expected open by mid-2017. Shorenstein Properties LLC, who purchased the property in May of 2015, hired JLL to market the 25,000-square-foot retail component in the building, which is a full block on Broadway between 38th… Read More
Most shoppers are eschewing online retailers for their back-to-school needs. Just 19 percent said they would buy supplies at online retailers and about one-quarter said they would buy clothes online.
“A constant theme this survey showed was consumers desire to save on cost and time. Bricks-and- mortar stores offer a wide selection and many malls, superstores and department stores offer one-stop shopping convenience. Furthermore, shipping costs and the hassle of returns were… Read More
While kids may be off from school, it seems parents won’t be giving them a vacation from back-to-school shopping. According to JLL’s Back-to-School survey of nearly 2,000 consumers nationwide, only seven percent of respondents will wait until after school starts to do their shopping, a decrease from last year’s nearly 11 percent that said they would wait for school to begin. Of the 93 percent that will shop prior to the… Read More
The proclivity for low prices doesn’t exactly mean that shoppers will be tightening their purse strings this year. While most shoppers will once again spend less than $500 on back-to-school items this year, the share of shoppers spending between $100-$500 rose year-over-year from 63 percent in 2015 to 75 percent this year.
“This year, we found that consumer income seems to have little effect on their budgets or behavior when it comes… Read More