By Robert Carr
CHICAGO-Growth in consumer confidence, though slight, is translating to a boost in the retail market, according to Jones Lang LaSalle in a recent global report. Retailers are continuing to talk about new stores and plan for the holiday season, while investors are seeing better quality properties come on the market, and lenders opening up cash flow.
Many projects put on hold during the global financial crisis are underway again, according to the report. However, the retail landscape for the next few years will be challenging, particularly in mature markets. The growth hasn’t come without change, says Greg Maloney, president and CEO of JLL Retail. Both retailers and owners have had to improve business practices, and lenders are finally pushing properties off balance sheets, in some cases through foreclosure. “This will start the process, get activity going for investors. It’s slow improvement, we’re not on a sharp curve upward,” Maloney says.
green retail is about providing value... which these days has also become the definition of luxury
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