LAS VEGAS—When is the last time you stepped into a brand newshopping mall? It's been nearly a century since the first shoppingmall opened in the United States—U.S. construction deliveries ofretail assets in 2013 were 76.6 percent below the high levels of2008, and Q1 2014 deliveries for major markets were only 9.8million.
The lack of new supply coupled with fluctuating consumerconfidence is pushing retail real estate owners to strategicallyevaluate their current assets. “With limited supply, getting theenvironment right in existing assets has become crucial, and it'swhat really creates a resilient retail center. It is the basicbuilding block of the physical offering, and can't be left tochance anymore,” JLL Retail's KarenRaquet told us.
According to JLL'sRetail Property Management and Leasing experts, thereare three key approaches retail owners can implement to boost theircurrent assets:
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Geoffery Metz
Geoffery Metz is the content manager for ALM's GlobeSt.com, Credit Union Times and Treasury & Risk. Before joining ALM, he spent several years overseeing the newsroom at the financial wire service Business Wire, with special focus on multimedia presentation for the web.
