NEW YORK CITY—With the fundamentals of the retail market strengthening and prices appreciating, the investment community is bullish on the sector in 2014. Add to that a strong first quarter, and the momentum is expected to pick up as increased demand for retail assets has created optimal conditions for sellers.
In other words, retail is heating up, and there might not be enough properties to go around. GlobeSt.com spoke with JLL before the upcoming ICSC RECon 2014 to get their take on the sector.
Grocery-anchored, urban high street retail and trophy malls top the list of products prime for the picking as limited supply enters the market: “While the most desired retail asset types remain high-quality grocery anchored centers and trophy malls, many investors are getting outbid in gateway markets and are turning their attention to all different types of retail assets and markets. We're seeing an increased number of sales of strip centers and power centers come to market, receiving aggressive bids and trading quickly,” commented Kris Cooper, Managing Director at JLL.
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Geoffery Metz
Geoffery Metz is the content manager for ALM's GlobeSt.com, Credit Union Times and Treasury & Risk. Before joining ALM, he spent several years overseeing the newsroom at the financial wire service Business Wire, with special focus on multimedia presentation for the web.
