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Home News CRE

Offices, Residences And Retail: Multi-Use Real Estate Is The Future

JLL has teamed up with Poag Shopping Centers, which creates and develops open-air lifestyle spaces that incorporate retail storefronts, offices and more.

Aayat AlibyAayat Ali
August 22, 2022
in CRE
Reading Time: 1 min read
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Multi-Use Real Estate Is The Future

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Multi-use buildings are the future of real estate according to partners at JLL. 

The CRE giant recently teamed up with Poag Shopping Centers, which creates and develops open-air lifestyle spaces that incorporate retail storefronts, offices, multifamily residences and hospitality areas. 

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Through the new partnership, Poag will offer development services for JLL centers, while the latter will provide managerial and operational services to Poag’s lifestyle spaces. 

“Poag is the original pioneer of the lifestyle center, which is today’s most popular and durable segment of the retail sector,” said Greg Maloney, president and CEO of JLL’s Retail Property Management. 

“This strategic partnership allows both companies to bring our expertise to the shopping center of the future—a mixed-use retail destination—offering our clients unmatched expertise to steward their centers forward in the years to come.” 

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The merging of real estate has become a lifeline for the industry, which has struggled with low occupancy levels, skyrocketing rental costs and high attrition rates. By incorporating the tenants of real estate in a single space, operators and landlords have a better chance of weathering economic uncertainty. 

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Source: Globe St.
Tags: BusinessCRE
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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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