Recent closure announcements from JCPenney, Macy’s, Sears & Kmart tell us that up to 324 department stores will soon be empty. What happens when big anchors go vacant? JLL’s Greg Maloney explains how shopping center owners can make this space useful again. We also learn what happened to the 133 Target stores that closed in Canada in 2015 from Dr. Tony Hernandez of the Centre for the Study of Commercial Activity… Read More
This holiday season if you are doing your gift shopping at a JLL-managed center you might just get a little something extra for yourself. JLL-managed centers across the country will be giving away gift cards to spontaneously delight and surprise shoppers this November and December. Santa, or one of many JLL “elves”, will be handing out the cards – but there’s a catch – shoppers will be encouraged to redeem the… Read More
The sale of goods and services online is expected to grow 8.6 percent on average per annum for the next five years according to IBIS World. While retail shopping is moving online, it isn’t leaving physical stores in the dust as 92.5 percent of retail sales still happen in store according to JLL’s retail experts. In an effort to counter this misnomer, JLL is sparking an industry-wide conversation about the undeniable… Read More
Yesterday, I traveled around Atlanta to get a feel for how Black Friday was performing and live tweeted my experience. I spent 12 hours shopping, and put more than 200 miles on my car while covering the entire north side of the city. Here are my five key takeaways:
1. Thanksgiving day openings just took away from Black Friday door busters, but those that didn’t open Thursday were packed, Home Depot to name one.
2. The only stores… Read More
To commemorate and celebrate the official start of the holiday shopping season, retail guru @Greg_Maloney will take over the @JLLNews twitter account on Black Friday, November 28th between 6am ET and 6pm ET to answer your questions on the retail industry’s performance, and share live updates from JLL-managed malls around the United States.
For additional insights… Read More
Four years from now, you’ll see fewer traditional supermarkets as consumers spread their spending across multiple grocery stores. JLL Retail shares how shifts in the grocery landscape are impacting the sector and what you can expect in the next decade on Fox TV: http://bit.ly/1wlRvxW
New York News
Shopping online just keeps getting easier. As deal sites abound, shipping prices fall away, inventory endlessly expands, and it begs the question: “does anyone load the kids up in the family car and drive to the mall anymore?” Turns out they do—and especially when school’s about to start. A recent survey shows that 90 percent of American households plan on doing their back-to-school shopping at physical retail stores… Read More
Excerpt from GlobeSt.com
Aggressive company expansions typically come through organic growth or accretive acquisitions. For JLL Retail, the company’s path to forming a competitive national brokerage business began with a new outlook at the local mall level.
“We changed how we viewed the growth of our retail business during strategy session several years ago,” Greg Maloney, the chief executive officer… Read More
#TBT to the mall-mover, Kris Cooper and Margaret Caldwell, team back in 2004 – the year the Boston Red Sox won the World Series, Martha Stewart went to jail and Nintendo DS was released. A decade later, these two are still a powerhouse team, known for their impeccable client service, out-of-the box thinking, and international investor relationships. In 2013 alone they closed 36 deals, and 2014… Read More