Urban retail has reclaimed its prominent position in the market in 2024 with its resilient tenant demand, robust occupancy rates, and steady rent growth, according to a new report from JLL.
Climbing office populations, the re-emergence of international business travel, and the prospects of a more promising investor climate are key reasons for the boost, says Senior Managing Director Chris Angelone, who co-leads the JLL Retail Capital Markets platform.
Additionally, urban hotel RevPAR has exceeded 2019 levels and residential population outflows from major cities have stabilized.
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