AI Doesn't Replace Human Judgment in Retail Real Estate - Where We Buy #375

Phil Colicchio is co-founder of Central Perk Coffee Company and head of Colicchio Consulting. Phil shares the origin story of how a pitch meeting at Warner Bros. about a sandwich concept unexpectedly led to a license for the globally iconic Central Perk brand from the hit TV show Friends. He discusses the challenges of raising capital without owning the intellectual property, the decision to test the concept in Boston before opening in Times Square, and lessons learned from early operational mistakes. He also covers the company's growth plans, its hub-and-spoke expansion strategy, and why quality and hospitality remain at the core of the brand. James Cook is the Director of Retail Research in the Americas for JLL.  Subscribe:  Apple Podcasts | Spotify  Listen: WhereWeBuy.show  Email: [email protected]  YouTube: http://everythingweknow.show/ Read more retail research here:  http://www.us.jll.com/retail Theme music is Run in the Night by The Good Lawdz, under Creative Commons license.

Paul Sill uses data and predictive analytics to help retailers, restaurants, and other brick-and-mortar businesses make site selection decisions. Paul explains the critical difference between correlation and causation in retail data, explaining that misreading data can lead to costly mistakes. He also discusses how new data sources like social media behavior and mobile foot traffic are shaping modern site selection, why AI still can't replace human judgment in real estate modeling, and the importance of validating instincts with data. Paul, who also teaches at DePaul University, emphasizes that good analytics are about mitigating risk, not providing easy answers. Paul Sill is Managing Director and Head of the Visionary Insights Group at JLL, James Cook is the Director of Retail Research in the Americas for JLL.  Subscribe: Apple Podcasts | Spotify  Listen: WhereWeBuy.show  Email: [email protected]  YouTube: http://everythingweknow.show/ Read more retail research here:  http://www.us.jll.com/retail Theme music is Run in the Night by The Good Lawdz, under Creative Commons license.    

Walter Wahlfeldt is Midwest Retail Lead at JLL. He discusses the state of retail real estate in Chicago, from the recovery of the central business district to the evolving Magnificent Mile. He covers return-to-office trends, shifting retail rents, the grocery wars heating up in the market, and what makes Chicago a top-five destination for expanding retailers. Wahlfeldt also shares lessons from his own experience as a former bakery owner and what he looks for when evaluating retail concepts. James Cook is the Director of Retail Research in the Americas for JLL.  Subscribe: Apple Podcasts | Spotify  Listen: WhereWeBuy.show  Email: [email protected]  YouTube: http://everythingweknow.show/ Read more retail research here:  http://www.us.jll.com/retail Theme music is Run in the Night by The Good Lawdz, under Creative Commons license.  

Uli Stosch is Chief Officer of Strategic Development at Planet Aid, Inc., a nonprofit organization that collects and resells used clothing and textiles through nearly 10,000 donation bins across 15 states. Uli explains Planet Aid's mission to divert textiles from landfills, support reuse over recycling, and fund sustainable development projects worldwide. She discusses the logistics of placing donation centers in retail locations, including lease negotiations with shopping center owners, ideal site characteristics, and overcoming industry challenges. She also covers Planet Aid's innovative solar-powered donation centers with security cameras, ESG reporting benefits for landlords, the growing textile waste crisis, extended producer responsibility laws, and the organization's curated resale store called The Loop. James Cook is the Director of Retail Research in the Americas for JLL.  Subscribe: Apple Podcasts | Spotify  Listen: WhereWeBuy.show  Email: [email protected]  YouTube: http://everythingweknow.show/ Read more retail research here:  http://www.us.jll.com/retail Theme music is Run in the Night by The Good Lawdz, under Creative Commons license.  

Taeyun Kim is Chief Development Officer at CJ Foodville US, the parent company of Tous les Jours, a French-Asian bakery cafe chain with over 180 locations across 31 states. Taeyun discusses the company's ambitious expansion plans to reach 1,000 stores by 2030, explaining the brand's unique positioning as a neighborhood bakery offering fresh-baked pastries and bread with European and Asian influences. She covers the franchise-driven growth model, ideal real estate requirements (3,000 square feet in prominent locations), and the recent opening of a state-of-the-art production facility in Gainesville, Georgia to support supply chain stability. She also shares insights on menu innovation, the Korean bakery tradition, signature items like cloud cakes and salt bread, and her background in restaurant real estate development, including her work with Panda Restaurant Group, Argo Tea, and Wow Bao's ghost kitchen program during the pandemic. James Cook is the Director of Retail Research in the Americas for JLL.  Subscribe: Apple Podcasts | Spotify  Listen: WhereWeBuy.show  Email: [email protected]  YouTube: http://everythingweknow.show/ Read more retail research here:  http://www.us.jll.com/retail Theme music is Run in the Night by The Good Lawdz, under Creative Commons license.  

Ian Scott leads retail safaris around the world. He takes listeners on a virtual tour of six distinctive stores—from Fanatics Collectibles' interactive sports collectibles space in London to Buck Mason's immersive lifestyle store in New York, Larfeuille's artisanal leather workshop in Paris, Ffern's sensory fragrance boutique in London, Singapore's DORS at Design Orchard retail incubator, and Patagonia Action Works Cafe. Ian emphasizes the enduring value of physical retail, the importance of cross-sector inspiration, and how stores can create authentic experiences through storytelling, sensory engagement, and human connection.   James Cook is the Director of Retail Research in the Americas for JLL.  Subscribe: Apple Podcasts | Spotify  Listen: WhereWeBuy.show  Email: [email protected]  YouTube: http://everythingweknow.show/ Read more retail research here:  http://www.us.jll.com/retail Theme music is Run in the Night by The Good Lawdz, under Creative Commons license.  

Josh Rainey is Senior Director of Real Estate + Growth at [solidcore], a boutique fitness operator specializing in intense strength training workouts on custom-built reformers. [solidcore] expanded from 85 locations in 2022 to 165 today, with plans to reach 205 by the end of the year. He discusses [solidcore]'s target demographic of primarily women aged 25-35, the importance of community-driven fitness experiences, and the brand's focus on longevity and preventative wellness. Josh covers site selection strategy, ideal co-tenants like premium grocers and athleisure retailers, and how the company's corporate-owned model ensures consistency across all locations. He shares insights on real estate challenges including rising rents in Texas, the return of capital investment to retail, and the importance of creating third places that inspire curiosity and frequency. James Cook is the Director of Retail Research in the Americas for JLL.  Subscribe: Apple Podcasts | Spotify  Listen: WhereWeBuy.show  Email: [email protected]  YouTube: http://everythingweknow.show/ Read more retail research here:  http://www.us.jll.com/retail Theme music is Run in the Night by The Good Lawdz, under Creative Commons license.  

Sean McNamara leads The Mixx at JLL, a specialized platform for managing complex mixed-use developments across North America. McNamara explains the unique challenges of managing properties that combine office, retail, residential, hotel, and entertainment uses on a single site. He discusses the importance of creating a sense of place through strategic merchandising, placemaking, and activation, highlighting projects like Plaza Coral Gables in Florida and OCVIBE in Anaheim, California. McNamara covers the rise of sports-anchored mixed-use developments, the role of technology infrastructure, and how successful mixed-use projects can command premium rents when properly managed and activated. James Cook is the Director of Retail Research in the Americas for JLL.  Subscribe: Apple Podcasts | Spotify  Listen: WhereWeBuy.show  Email: [email protected]  YouTube: http://everythingweknow.show/ Read more retail research here:  http://www.us.jll.com/retail Theme music is Run in the Night by The Good Lawdz, under Creative Commons license.  

Julia Yook is General Manager of Arte Museum New York, a 52,000-square-foot immersive media art space at Chelsea Piers. Yook explains the museum's origins in South Korea in 2020, its expansion to locations worldwide including Las Vegas and upcoming sites in Los Angeles and Orlando, and the logistics of creating multisensory experiences that combine light, sound, scent, and spatial design. She covers the museum's 14 distinct zones, the proprietary technology behind interactive features like the sketch room and cafe experience, and how the creative team in Korea designs custom exhibitions for each location. Yook also discusses visitor demographics, corporate buyouts, and social media's role in driving attendance.   James Cook is the Director of Retail Research in the Americas for JLL.    Subscribe: Apple Podcasts | Spotify  Listen: WhereWeBuy.show  Email: [email protected]  YouTube: http://everythingweknow.show/ Read more retail research here:  http://www.us.jll.com/retail Theme music is Run in the Night by The Good Lawdz, under Creative Commons license.  

Clare Walsh is Managing Director of Leasing Strategy at Asana Partners, a retail-focused investment firm with over $7 billion in assets under management. Walsh discusses the company's focus on neighborhood retail across the top 25 U.S. metropolitan areas, highlighting key properties in neighborhoods including Dallas Design District, Charlotte's South End, and Salt Lake City's East Bench. She covers current retail trends including the wellness economy, the rise of authentic Asian cuisine and beauty concepts, and the growing demand for small-format retail. Walsh also explains Asana Partners' active investment approach, the challenge of finding quality all-day cafes, and how experiential retail and AI-powered personalization are shaping the future of neighborhood shopping centers.   James Cook is the Director of Retail Research in the Americas for JLL.    Subscribe: Apple Podcasts | Spotify  Listen: WhereWeBuy.show  Email: [email protected]  YouTube: http://everythingweknow.show/ Read more retail research here:  http://www.us.jll.com/retail Theme music is Run in the Night by The Good Lawdz, under Creative Commons license.