Retail therapy draws tenants to suburban Class A product
Shopping on your lunch hour never gets old. Especially in the suburbs, where the live/work/play perks of urban density are in short supply. Suburban malls offer the opportunity to run errands during lunch, while also conveniently supporting a wide array of business amenities such as restaurants and event space for everyday meetings and larger corporate gatherings.
Across suburban Chicago, Class A office properties within a mile of a major mall are outperforming their competition in three out of four major suburban submarkets. While the area around Fashion Outlets of Chicago appears to be flagging, JLL Research attributes that to lack of concentrated Class A buildings surrounding the retail center and the size of nearby O’Hare airport.
Categories: Brokerage, Capital Markets, Jones Lang LaSalle, Office Leasing, Research, Retail, Suburbs, Workplace Strategy and tagged Commerce Plaza, Dan Fernitz, Eastern East-West, Fashion Outlets of Chicago, JLL Research, Karla Harmon, live/work/play, malls, Norm Murdoch, North Cook County, Northwest, O'Hare, O'Hare Plaza, Oakbrook Center, Old Orchard, Rick Benoy, shopping, suburban Chicago, suburbs, Two Century Centre, Westfield Old Orchard, Woodfield Mall, Zurich.