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Jeff Bach, who has been with JLL (JLL) for seven years, has been named the new head of retail leasing for the mid-Atlantic region.
“My immediate goal is to grow JLL retail regionally both in revenue and team size,” Bach told Commercial Observer. The mid-Atlantic retail team currently numbers 15 people.
Hired as a managing director for the Baltimore office in 2017, the 35-year real estate veteran will now head the retail brokerage teams for Washington, D.C., Baltimore, Northern Virginia, Richmond, Va., and Hampton Roads, Va. Before coming to JLL, Bach spent 28 years at CBRE.
“The retail market is a bright spot in the commercial real estate industry and we seek to take advantage of favorable market conditions to ensure our clients gain the most value possible from their investments,” Bach said. “We have lots of exciting clients and deals in the pipeline, building off the incredible momentum we were able to gain in the last year.”
In D.C., there is an extreme tightening in the retail market due to a lack of new construction, Bach noted.
“Vacancy rates are at historical lows and will remain for the foreseeable future,” he said. “The recent closures of national anchor tenants has created some opportunity for emerging and expanding tenants to gain traction in the mid-Atlantic region.”
Before Bach’s arrival, JLL’s retail team was most recently involved in finding Roasting Plant Coffee’s first D.C. location at 1211 Connecticut Avenue NW; representing Tatte Bakery in its Farragut Park lease at 912 17th Street NW; and helping climbing gym SportRock find an 80,000-square-foot space at Rio Lakefront Shopping Center in Gaithersburg, Md.
In addition to Bach’s new appointment, JLL made a series of personnel moves, including promoting Andy Corno and Thomas Jackman to managing directors in D.C.; Joe Botzler and Spotty Robins to senior vice presidents in Baltimore and Richmond, respectively; and Ana Henrich to vice president in Baltimore.
Keith Loria can be reached at Kloria@commercialobserver.com.
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