Not So Long Road for Retail Real Estate
A “Not-So-Long-Road” to Recovery for Retail Real Estate
JLL Retail’s perspective on Recovery, Plus Shopping Center and Retailer Executives Expectations for the Industry
BY: Sasha M. Pardy
AS published in CoStar Newsletter
Jones Lang LaSalle Retail last week issued a "perspective on recovery" for the retail sector in which JLL Retail President and CEO Greg Maloney predicted that the recession will bottom out during the last quarter of this year, to be followed by the beginning of revitalization for the retail industry in first quarter 2010.
JLL Retail's prediction for a gradual recovery in the retail industry is based on a number of key economic indicators that the firm says are slowly stabilizing. First, job losses are slowing -- the average monthly job loss for May through July was about half the average decline for the previous six months and there was a slight improvement in the unemployment rate during July.
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