JLL Expands Real Estate Services in Puerto Rico to Include Retail

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Emerging brands all covet the opportunity to expand into the United States’ strong consumer environment. Caribbean-born brands are eyeing ways to extend into the United States via Florida and the Southeast, and JLL is now serving those retailers and investors with expanded services out of Puerto Rico including Retail tenant representation, landlord representation, property management and investment sales. Puerto Rico’s prime location, coupled with its potential for investment and growth makes it an ideal market for international investment.

Puerto Rico

Puerto Rico has been one of the vibrant economies in the Caribbean. The region has had a challenging last decade but its economic base is on relatively solid ground due to the diversified industry and ties to the United States.

JLL’s local retail client base is already expanding, as is its talent roster. Retail transactions throughout Puerto Rico are now handled by Andy Carlson, Vice President of Retail, JLL and Vanessa Perez, Associate of Retail, JLL who joined the firm earlier this year. They’ll work closely in partnership with Zach Cheney, Managing Director of JLL’s Greater Latin America business, and his existing office and industrial teams in the territory.

“We’ve been operating in the region for nearly a decade, but adding retail capabilities will advance the development of our cross-regional service delivery to key retail clients,” said Cheney. “Andy and Vanessa understand the retail markets in Puerto Rico and Florida which gives them a unique perspective and ability to bridge the gap between the Island and mainland and to assist our clients in a successful market entry plans.”

Beyond bringing U.S.-based retailers to Puerto Rico and supporting landlord leasing efforts on the island, Carlson and Perez will also support the exportation of Puerto Rican brands to Florida and the Southeast. Current Puerto Rican retailers that they are representing include:

  • Almacenes Plaza, a boys and men’s clothing store, seeking up to 6,000-square-foot spaces in malls or power centers
  • Kamea Meha Surf Shop, a surf and beach oriented clothing shoes and accessories store, seeking up to 3,000-square-foot spaces in malls and power centers
  • Meson Sandwiches, a sandwich and coffee shop, seeking up to 3,000-square-foot endcap or pad sites
  • Casa Febus, the Caribbean chic furniture, home decor and design store, seeking up to 12,000-square-foot spaces at malls or town centers
  • Valija, a Bohemian chic boutique with private label women’s clothing and accessories with a little bit of Caribbean flair, seeking up to 1,600-square-foot spaces in malls or lifestyle centers.

For more information on the Puerto Rico market  download JLL”s latest report

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