Capital Markets at JLL​’s Post

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Our Midyear 2024 U.S. Retail Transactions Summary Report provides exclusive capital markets insights for the retail industry, incorporating input from our colleagues and clients across the country. Our key takeaways are highlighted below: 1. Despite H1 2024 retail transaction volume declining 12% year-over-year and 40% relative to the 10-year long-term average, the flow of capital into the retail sector continues to rise, as its percentage of the total commercial real estate transaction volume increased 3 pp in H1 2024 versus prior year to 21%. 2. The Southeast and West Coast continue to top the investment leaderboard, maintaining a strong portion of retail liquidity at 44% in aggregate. Northeast was the only region that observed an increase from prior year driven by multiple high-profile, urban retail trades. 3. Private capital continues to account for the largest portion of transaction volume, albeit REITs and foreign capital are increasingly active. Grocery-Anchored Centers represented the majority of multi-tenant transaction volume, while Unanchored Strip Centers accounted for their highest-ever portion at 16%. 4. Grocery-Anchored and Unanchored Strip Centers are trading at similar cap rate levels as both are in high demand from retail investors. In H1 2024, the cap rate spread between grocery-anchored and power centers narrowed to 110 bps compared to 170 basis points in H1 2023. To see a full version of the report, please reach out to Danny Finkle, Barry Brown, Chris Angelone, and Ophelia Makis #Retail #RetailCapitalMarkets #JLLCapitalMarkets

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