Jones Lang LaSalle spoke with several of the attendees at the New York National Conference about the latest and greatest going on in the industry. Check out the videos below and special thanks to JLL for guest video blogging from the New York National Conference.
Possible Hiccups on the Horizon for Retail
Paul Berkman EVP of Retail Brokerage in NYC, discusses how value and basics will be king in the Big Apple in 2013 with apparel and quick food retailers continuing to do well. Expect smaller footprints as retailers have learned how to optimize less space.
Pinpointing the Right Location
Growth is smart but smart growth is critical, according to Marty Jenkins, Director of Real Estate for T-Mobile USA. Understanding your customer, their needs and knowing how to deliver maximum value and service is critical to a retailers success. T-Mobile continues to grow strategically across the country and plans to open approximately 100-200 new stores in 2013.
Better and Best Retailers to Shine in the New Year
Consumers are benefitting from retailers competing for their dollars as they pull out all the stops to drive traffic and sales this holiday season. It’s the better and best retailers that will continue to grow in 2013 as pent up demand and strong balance sheets make for the perfect opportunity for retailers to pop when consumer demand increases and economic clarity becomes evident.
Trophies, High-Quality and Open-Air the Darlings of Retail Investment Sales
If you can’t find core, class A retail assets to buy, look at open-air centers anchored by the top grocer, says Margaret Caldwell, Managing Director of Jones Lang LaSalle’s Retail Capital Markets group. On the flip side, REITs continue to sell B and C assets in secondary markets and are using that capital to buy better assets or redevelop what they have in their portfolios.
Jones Lang LaSalle Forecasts Partly Sunny Year Ahead
Retailers are optimistic after a strong Black Friday weekend and planned store growth is at an all-time high, says Keisha McDonnough, Retail Research Analyst at Jones Lang LaSalle. While planned new store openings are increasing, square footage is decreasing making for a potential net zero impact in 2013. The sector is balancing e-commerce and brick and mortar sales well and coordinating online orders with local fulfillment thus optimizing the customer experience.
Gateway Cities on West Coast Optimal for Retail Growth
Retailers are looking to coastal, metropolitan cities to expand in and the West Coast fulfills their requirements, says Craig Killman, Retail Market Lead for JLL on the West Coast. Gateway cities such as Los Angeles and San Francisco have consumers with deep pockets and that’s just what retailers and retailer developers need in the coming year. Developers are looking for the urban, in-fill locations with the live-work-play atmosphere.