JLL Capital Markets Managing Director Adam Howells, Managing Director Tom Salanty and Senior Associate Caroline Binning led the JLL team on the deal.
The 225,531-square-foot retail center is 97% leased and features a top-tier line-up of national retailers including Dick’s Sporting Goods, TJMaxx, HomeGoods and Big Lots. The asset is located in a highly visible area, directly across from La Palmera Mall.
“The property is well-positioned in a unique, high-traffic area, establishing itself as the premier shopping destination for over half a million residents in the Costal Bend Region,” said Salanty. “This is a great opportunity for the investor with excellent upside.”
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 a sale, financing, repositioning, advisory or recapitalization execution. In 2016 alone, JLL Capital Markets completed $136 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the second quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of nearly 80,000. As of June 30, 2017, LaSalle Investment Management had $57.6 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com