"We expect new development will increase and redevelopment will remain a relevant trend," said Margaret Caldwell, Managing Director and co-leader of Jones Lang LaSalle's Retail Capital Markets. "Retailers and investors are still keenly interested in major markets, but population growth will be key to performance in 2013, which we expect to be led by the Sunbelt and Southwest."
The hotel market is a specialty play for the respondents of this study, but there are a number of registered and active buyers of hotels in the United States, particularly private equity funds and REITs, and to a lesser extent, off-shore investors. Jones Lang LaSalle Hotels estimates that the current buying power among these groups of investors is approximately $55 to $64 billion for hotel purchases over the next several years. Overall, strong hotel operating fundamentals, increasing debt levels, the high amount of equity and a lower cost of capital will continue to underpin buoyant transactions market in 2013 and beyond.
Future FactorsSurvey respondents were asked to write in the one factor that would influence their development/investment activity in the year ahead. Respondents overwhelming pointed to the economy, a lack of job growth and the European debt crisis as their major concerns regarding the greatest hurdles to market improvements in 2013. These market pressures and opportunities will be among the prime discussion topics for leaders attending the Urban Land Institute Fall Meeting October 16 to 19, 2012. For an insider's perspective of all the happenings at the ULI Fall Meeting in Denver, visit Jones Lang LaSalle's one-stop web repository for news, speaker's updates and video blogs of experts attending the conference: http://www.us.am.joneslanglasalle.com/unitedstates/en-us/pages/uli.aspx Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2011 alone, Jones Lang LaSalle Capital Markets completed $60 billion in investment sale and debt and equity transactions globally. The firm's dealmakers completed $52 billion in global investment sales and buy-side transactions, equating to nearly $216 million of investment trades completed every working day around the globe. In the United States, Jones Lang LaSalle grew its total Capital Markets volumes by 122 percent in 2011 and is quickly gaining market share across all property types. The firm's Capital Markets team comprises more than 1,200 specialists, operating all over the globe. For more news, videos and research resources on Jones Lang LaSalle, please visit the firm's U.S. media center Web page. Bookmark it here: http://www.us.am.joneslanglasalle.com/UnitedStates/EN-US/Pages/News.aspx About Jones Lang LaSalle Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company's investment management business, is one of the world's largest and most diverse in real estate with $47 billion of assets under management. For further information, please visit www.joneslanglasalle.com. SOURCE Jones Lang LaSalle