Peter Caruso, SVP, Retail Brokerage, is the ultimate example of patience + persistence = prosperity. Prior to joining JLL, the market had begun recovering from the worst downturn in modern day Retail history. For Peter, things were good; however, he was functioning on a regional platform. He was excited to come to JLL, a global platform, which was the wave of the future. To Peter, it doesn’t feel like a big… Read More
When the Chicago Cubs won the 2016 World Series (after a long 117 years), tourism was booming and the victory parade blew 5 million people into the Windy City. Chicago is home to fresh and established corridors that are bringing in more people and ultimately, more money. With their energy and mix of options, it’s no wonder that Magnificent Mile, State Street, Oak Street, Wicker… Read More
Flagships signify the lead ship guiding a fleet, and today flagship stores act similarly for a retailer guiding their store portfolio with innovative concepts, technology and merchandise. While luxury brands have used flagship stores for years to connect with customers and grow brand recognition, JLL’s latest research report Flagship Confidential, shows an increase in retailers across all price points using a flagship store strategy. The report, which looks at 145 flagship… Read More
Chicago is the nation’s largest retail market, containing more than 500-million-square-feet of retail space. But, tight retail vacancy rates on Chicago’s prime streets, like Michigan Avenue, are leading retailers to expand throughout the city. Retail sales growth prospects have become increasingly attractive and obtainable in the Windy City, with consumer spending now back to pre-recession levels with nearly four percent annual growth since 2010.
A tighter market makes sense given the disposable… Read More
Excerpt by Ian Ritter, GlobeSt.com: Read the Full Story
Chicago is on the front lines when it comes to the struggles that middle-market grocery companies are facing, while competitors targeting consumers in both the lower- and upper-income brackets expand and flourish. At the end of last year, Dominick’s, a household supermarket name in the area, closed its 72 stores.
However,… Read More