JLL REIT Makes $63M Deal For Las Vegas Retail Center

Law360, Los Angeles (August 11, 2017, 2:08 PM EDT) -- JLL Income Property Trust, a Chicago-based real estate investment trust affiliated with real estate services firm Jones Lang LaSalle Inc. on Thursday said that it has acquired a grocery-anchored retail center in Las Vegas in a $63 million deal.

JLL purchased Montecito Marketplace, a 190,000-square-foot shopping center located at 7120-7170 N. Durango Drive, according to a statement from the trust announcing the move. The fully let property is anchored by Smith's Grocery, which is a subsidiary of Kroger, and also houses a TJ Maxx, national and regional restaurants and banks, the statement said.

The seller was not disclosed, but a representative...

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