News
JLL DEALIN' IN BIG APPLE
December 7, 2010
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| Some Atlanta CRE industry vets made their way to the Big Apple for this week's ICSC New York National Conference. We stopped by JLL?s dealmaking room where managing directors Margaret Caldwell and Kris Cooper reported retail investment sales are on the rise, and they've been selling many B and C properties to a mix of investors including private, foreign, and REITs. The Atlanta-based duo says that many of these deals have been in the South, but they've sold five malls nationwide, and are coming to market with another soon. They?ve also received their first preemptive offer in nearly four years, but it's yet to see whether this is the exception or the tip of the iceberg. They're about to bring Long Island?s grocery-anchored Huntington Square Plaza to market, which they expect to attract about 20 bids and trade at a 6 cap. Also watch for upcoming deals in Harrisburg, Atlanta, the Carolinas, and Louisiana. |
