Retail Activity Moves Toward Secondary Markets, Less Volatility Expected
0 CommentDespite the economy’s ups and downs, retail transaction volumes were strong in secondary markets where population and job growth continued to fuel demand in the first quarter of 2016. According to JLL’s U.S. Investment Outlook, the retail sector will likely not see as much volatility as the year progresses while these burgeoning markets and new supply open opportunities for capital that remained dormant in the beginning of the year.
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AEW Capital Management, L.P. has selected JLL to manage and lease The Shops at Highland Village, a 352,000-square-foot lifestyle shopping center located at 1701 Shoal Creek in Highland Village, Texas. Anchored by AMC Highland Village 12, Whole Foods Market and Barnes & Noble Booksellers, the open-air, pedestrian-friendly center includes 11 restaurants and 60 specialty shops including Banana Republic,… 
On behalf of Aliana Development Company, JLL today announced the firm has completed the sale of 15 acres of land zoned for retail development in Richmond, Texas. HEB purchased the asset, and has commenced construction on an upscale 102,000-square-foot HEB grocery store located at SH-99… 
CityCenter Holdings, LLC (“CityCenter”), a venture between MGM Resorts International (NYSE: MGM) and Infinity World Development Corp., today announced that it has entered into a definitive agreement with a venture led by Invesco Real Estate (NYSE: IVZ) and Simon Property Group (NYSE: SPG) to acquire The Shops at Crystals for a purchase price of approximately $1.1 billion.