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| Amy Sands |
WASHINGTON, DC, June 15, 2022 – JLL’s Capital Markets group announced it has closed the $278.15 million sale of a portfolio comprising eight grocery-anchored retail properties totaling 687,000 square feet across affluent markets in Atlanta, Dallas, Detroit, Los Angeles, Minneapolis, Orange County, Philadelphia and Washington, D.C.
 |
| Bill Moylan |
The portfolio is 88.5 percent leased with a weighted average lease term of 6.3 years, with 36 percent of the total space designated as grocery square footage.
Tenants include some of the top grocery chains
in the U.S., including Ralphs, Target, Whole Foods Market, Giant, Trader Joe’s
and Sprouts Farmers Market, along with Nordstrom Rack, Starbucks, Rite Aid and
Sierra Trading Post.
The portfolio consists of:
·
Olde Ivy Village, 4330 East-West Connector, Smyrna, GA (Atlanta)
·
Denton Village, 4930 Teasley Lane, Denton, TX (Dallas)
·
Northpark Square Village, 27706-27776 McBean Pkwy., Valencia, CA
(Los Angeles)
·
Northville Park Place, 18771-39869 Traditions Dr., Northville, MI
(Detroit)
·
City Place, 205 Radio Dr., Woodbury, MN (Minneapolis)
·
Rusty Leaf Plaza, 2512-2560 E. Chapman Ave., Orange, CA (Orange
County)
·
Lower Makefield Shopping Center, 700 Stony Hill Rd., Yardley, PA
(Philadelphia)
·
New Town Village, 9700 Groffs Mill Dr., Owings Mills, MD
(Washington, D.C.)
 |
| Chris Angelone |
The JLL Capital Markets team representing the
seller was led by Managing Director Bill Moylan and Senior Managing
Director and Co-Head of U.S. Retail Capital Markets Chris Angelone,
along with Senior Managing Directors Barry Brown, James Galbally, Jim
Hamilton and Geoff Tranchina and Managing Director Amy Sands.
 |
| Barry Brown |
“This portfolio provides geographic diversity,
income diversity and tenancy diversity, and, although there is a little
choppiness in the markets, we are seeing no slowdown in demand for well-located
opportunities across the country.”
The JLL Capital Markets group is a full-service
global provider of capital solutions for real estate investors and occupiers.
 |
| James Galbally |
The team’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.
The firm has more than 3,000 Capital Markets
specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL,
please visit our newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real
estate broker licensed with the California Department of Real Estate, license
#01223413.
 |
| Jim Hamilton |
Inland Real Estate Income Trust, Inc. was formed to acquire,
directly or indirectly, a portfolio of commercial real estate located
throughout the United States with a focus specifically on grocery-anchored
retail assets. Inland Real Estate Income Trust, Inc. was sponsored by Inland
Real Estate Investment Corporation.
About JLL
JLL (NYSE: JLL) is a leading professional
services firm that specializes in real estate and investment management.
 |
| Geoff Tranchina |
JLL is a Fortune 500 company with annual revenue of $19.4 billion in 2021, operations in over 80 countries and a global workforce more than 100,000 as of March 31, 2022.
CONTACT:
Kimberly Steele
PR, Capital
Markets,
Agency Leasing and
Valuation Advisory
JLL
T +1 713 852 3420
M +1 832 244 9994
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