News
Retail Comeback
September 24, 2012
| Stabilization in rents. Stabilization in vacancy. Positive absorption. The news about retail is turning positive, according to JLL VP of retail brokerage Bryan Cunningham, who recently came on board as part of the firm's new local market retail initiative. Though he says it's very specific to the asset and trade area. |
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| Bryan, flanked by JLL VP David Thomas and NewMark Merrill San Diego managing director John Hickman at the ICSC Western Conference. Bryan cites once-dormant retailers that are starting to expand again. (Heads up, Sears: Roebuck back to reclaim his throne.) In addition, Bryan says cities were out in force at the conference, pushing shopping center development and trying to attract tenants. However, with folks focused on the best of the best, he notes the B and C centers are still struggling. |
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| Bryan reps owners of suburban retail centers (like The Forum Carlsbad, an upscale outdoor mall) and a handful of tenants such as Sprouts and AMC Theaters. Before JLL, he spent four years at Cushman & Wakefield and six years at Flocke & Avoyer. Along with David, who's based in LA, Bryan is helping JLL build a suburban retail leasing practice in SoCal. He still sees a little bit of hesitancy as tenants are being selective. |
