Following a city-wide trend of shrinking store formats, the average size for ground floor available retail space decreased in nearly all the prime submarkets tracked in the first quarter of 2018, according to JLL Research in New York. The lone exception was in Lower Fifth Ave, where it remained the same.
JLL unveiled its Global Food Trends report at ICSC’s Food for Thought conference in New Orleans this week, presenting the results of its search for the world’s biggest innovations in food service. With Americans now spending more on dining than groceries, these mega trends are set to shape the retail, food and beverage industries of tomorrow.
Experience Economy: The aspiration of experience over ownership
- Dinertainment: Consumers are looking for ways to incorporate more … Read More
If you were travelling through New York’s JFK Airport and thought you passed a giant blue Tiffany box, you were in fact correct.
The Tiffany installation was one of many examples of luxury brands popping up in airports as a way to draw in customers. Airports have long been synonymous with luxury retail outlets, but now a growing number of brands are choosing to showcase their wares in a more temporary, and eye-catching,… Read More
The retail climate is hot at ICSC 2017 – New York Deal Making, as retail industry experts gather to discuss navigating a somewhat unknown but definitely expanding frontier. Even this year’s conference is expanding – attendance, exhibitor space and CRE technology have all expanded at the Jacob K. Javitz Convention Center to help retailers build brand loyalty, grow revenue and empower the next generation…all in less than 3 days.
According to Shopping… Read More
As Cyber Week comes to a close and the holiday shopping season continues, retailers trying to out-sell competitors are not only engaging consumers online with limited, customized discounts, but also enhancing their in-person shopping experience to help build brand awareness and create lasting customer connections. This integrated sales approach is known as omnichannel and is proving to be a success by providing more value to customers and growing retail revenue. However,… Read More
REBNY Research reports that the Manhattan retail leasing market is proving to be an outlier against the national retail slowdown. Increased interest from retailers has spread throughout Manhattan, showing that there is confidence in Manhattan retail overall.
As the market’s natural retail correction continues, Manhattan rental rates for 72% of… Read More
Despite headlines about store closures, retail opportunity remains positive as new stores open and alternate paradigms emerge, especially in New York’s prime urban retail corridors.
In New York City’s upper Fifth Avenue shopping corridor, Under Armour will open its newest flagship store in 2018, in the former FAO Schwarz space vacated in 2015. Old Navy and The Gap will open flagships together in the former Toys “R” Us space in the Bow… Read More
A 20% decrease in bank branch locations is expected over the next 10 years
We’ve all heard the catch phrase “bricks versus clicks.” But have you considered the cost savings tied to bank branch evolution from bricks to clicks?
Simple math tells an astonishing story: the cost per transaction through a bank teller is $8.00; the cost per transaction via a mobile app is $0.08. Mobile deposit, transferring and banking has changed the… Read More
With ICSC #NYnDM taking over the Javits Center in New York this week, we thought we would do a round-up all things retail news…
CHECK OUT: Retail Runway…
JLL’s retail blog takes a look at the retail runway at ICSC New York and highlights the three major themes. What’s the great news for New York City? Urban store presence and Health and… Read More
Amanda Bokman joins JLL as a Managing Director and will provide tenant representation services throughout the New York metropolitan area
JLL has hired Amanda Bokman as a managing director in its New York office. She will be responsible for new business development and tenant representation services in the New York metropolitan area. Bokman will work closely… Read More