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Rebecca Wells, Executive Vice President of Midwest Retail Capital Markets at JLL shares her views on retail investment sales at the recent ICSC ReCon. The stars have aligned for extremely favorable selling conditions with market fundamentals and financing availability the best we’ve seen in years. Learn more by visiting: www.jll.com/mwcmg
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2014 Mid-Year Observations
Rebecca Wells, CRX, CCIM Executive Vice President
Midwest Retail Capital Markets +1 317 810 7009
Stars aligned for retail investment sales: Views from ReCon and beyond
Investors targeting secondary markets to find
yield and place huge amounts of equity
Very strong price appreciation + 20% YOY
Retail investor optimism due to improvement in economy
Bank and CMBS driving deal volumes for retail assets
Secondary market
Midwest/Great Lakes Region
2014 Mid-Year Observations
More capital chasing than there is product –
investors are digging deep to win transactions
Buyers are very competitive to win core,
trophy assets supported by highly competitive debt options – keeping
returns attractive
Class A/B
malls Urban high
street retail
NNN single
tenant
Grocery
anchored
retail
2014 Mid-Year Observations
Cash rich owners who have spent the last 2-3
years redeveloping and investing in their
portfolios are now monetizing
Owners have been successful creating value by repositioning assets with a stronger tenant base
Now able to take advantage of
market conditions by selling stabilized
assets into a much stronger market
2014 Mid-Year Observations
Favorable fundamentals with positive
momentum driving rents and price appreciation
in secondary markets
Strong net absorption and demand for space
Little new construction
Increasing rental rates and fewer landlord concessions
Major national tenants in
expansion/new store growth
mode
2014 Mid-Year Observations
REITs/Funds/Institutionals continuing to prune
non-core assets to upgrade existing portfolios
Sellers pricing rent growth into offerings
DDR/Kimco/Blackstone/Inland/ARC
Private buyers very
competitive on pricing given
availability of attractive debt
options
2014 Mid-Year Observations
For more information, please contact:
Rebecca Wells, CRX, CCIM
Executive Vice President
Midwest Retail Capital Markets
+1 317 810 7009
Key takeaway:
Extremely favorable selling conditions with
market fundamentals and financing
availability the best we’ve seen since 2008
2014 Mid-Year Observations
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