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| Grace Braverman |
MORRISTOWN, NJ, May 2, 2022 – JLL Capital
Markets announced today that it has closed the nearly $58 million sale of King’s
Crossing, an approximately 82,000-square-foot, Class A destination shopping
center anchored by Whole Foods Market in affluent Fairfield Township,
Connecticut.
JLL marketed the property on behalf of an
institutional seller. TA Realty acquired the asset.
 |
| Jose Cruz |
Developed in 2011, King’s Crossing is 97 percent
leased to a superior mix of needs-based tenants, including Whole Foods, CVS
Pharmacy, Petco, Five Guys, Sleep Number and Chipotle.
A shadow-anchored Home Depot provides additional
traffic to the center.
Positioned on 10.5 acres at 330-350 Grasmere
Ave., King’s Crossing is in Fairfield Township, a highly sought-after community
50 miles from New York City.
The center is less than a mile from both Route 1
and Interstate 95, providing easy connectivity, and in Connecticut’s Gold
Coast, an affluent coastal area of the state.
 |
| Kevin O’Hearn |
The growing area is also home to a wealthy
customer base with average household incomes exceeding $183,000.
The JLL Capital Markets team representing the
seller was led by Jose Cruz, Kevin O’Hearn, Danny Finkle, Michael Oliver,
Steve Simonelli, Andrew Scandalios and Grace Braverman.
“We’re thrilled to have worked with notable
institutional firms such as the seller and TA Realty on the sale of this
prestigious asset,” O’Hearn said.
 |
| Danny Finkle |
“With Whole Foods as it’s anchor and a national
tenant roster, King’s Crossing is a premier retail property in this region.
"We
had a tremendous response from investors and expect the buyer to do very well
with it.”
JLL Capital Markets is a full-service global
provider of capital solutions for real estate investors and occupiers.
The firm'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.
 |
| Michael Oliver |
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.
About TA Realty
TA Realty is among the largest and most
experienced providers of real estate investment management services to U.S. and
non-U.S. institutional investors.
Since its inception in 1982, TA Realty has
managed $36 billion of real estate assets through value-add and core strategies
and customized separate/advisory accounts.
 |
| Steve Simonelli |
TA
Realty’s investment philosophy focuses on creating diversified real estate
portfolios that aim to generate strong cash flow, receive intensive asset
management, and seek to achieve long-term value creation.
For four
decades, TA Realty has maintained this philosophy through multiple real estate
and economic cycles, a strength recognized by pension funds, endowments,
foundations and high-net-worth individuals.
About JLL
JLL (NYSE: JLL) is a leading professional
services firm that specializes in real estate and investment management.
 |
Andrew Scandalios
|
JLL
shapes the future of real estate for a better world by using the most advanced
technology to create rewarding opportunities, amazing spaces and sustainable
real estate solutions for our clients, our people and our communities.
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 98,000 as of December 31,
2021.
JLL is the brand name, and a registered trademark, of Jones Lang LaSalle
Incorporated.
Kimberly Steele
PR, Capital Markets,
Agency Leasing
and Valuation Advisory
JLL
T
+1 713 852 3420
M
+1 832 244 9994
JLL.com
tarealty.com.
