AUDIO: Retail has bounced back in the US to an extent where investors are finding it difficult to buy property.
“We’ve returned to a time when retail as a property type is in great demand and it hadn’t been for a few years. You will hear an investor say they are underweight in retail today in their portfolios as they are looking to balance out the various property types,” said Kirstin Mueller, chief operating officer for retail at JLL.
And what investors want is specifically grocery-anchored retail and trophy malls. But, said Mueller, the supply is not meeting the level of demand. There is also an increased demand for secondary malls.
This lack of supply has started to drive development, said Mueller.
Mueller’s colleague, Julie Steffen, senior vice president of the international desk, said there had been an increase in the amount of foreign investors who are strong in their own markets.
Steffen also highlighted Lidl’s proposed move into the US.
For the full interview, click on the podcast below, or download from Estates Gazette’s iTunes channel.
