The requested news item does not exist. Please return to News
Investors look beyond primary markets, targeting stable assets with strong demographics
LAS VEGAS, May 22, 2017 – In the first quarter of 2017, U.S. retail transaction volumes reached more than $16 billion, which is a slight 4.9 percent decline over last year, according to preliminary figures released by JLL at ICSC RECon in Las Vegas. But despite the dip, JLL expects a strong pipeline of transactions to grow and continue to stabilize this year.
"Going into this year, we anticipated being extremely busy as our investor clients expressed a desire to sell a significant amount of product. But, in January we saw investors cut back on their expectations and become more selective about pruning their portfolios. Thus the slowdown of overall retail trades," said Margaret Caldwell, Managing Director at JLL. "Since March, we've seen more retail assets hit the market and willing buyers if the location and price are right.
The Retail Investment Basics:
"Overall, we'll continue to see owners of well-performing properties keeping a tight hold on their assets and buyers becoming more stringent with their requirements," concluded Naveen Jaggi, President of Retail Brokerage and Capital Markets, JLL. "I expect that we'll see more trades at the tail end of this year, especially for hidden gems in tertiary markets, such as stable grocery-anchored centers, well-positioned power centers or even malls with little competition."
JLL is the largest third party retail property manager in the United States with more than 1,000 centers, totaling 125 million square feet under management, lease and sale. The firm has more than 150 retail brokerage experts spanning 35 markets, representing over 1,000 retail clients. In 2016, JLL's retail team completed 1,200+ leases on transaction management and lease renewals, generated $65.3 million in savings to clients through restructuring services, negotiated 950+ leases for retailers and 1,200+ leases for landlords and completed more than $5.4 billion of investment sales, dispositions and financing for investors. For more news, videos and research from JLL's retail team, please visit: www.jllretail.com.
About JLL JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management has $58.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit http://www.jll.com/.
+1 312 228 3127