JLL Capital Markets Facilitates Sale of Southwest Retail Portfolio Spanning Texas and Arkansas

Reuters
Aug 06
JLL Capital Markets Facilitates Sale of Southwest Retail Portfolio Spanning Texas and Arkansas

Jones Lang LaSalle Inc. $(JLL)$ Capital Markets has successfully facilitated the sale of the Southwest Retail Portfolio, a significant 514,983-square-foot retail property collection located across Texas and Arkansas. The transaction involved JLL representing Ball Ventures, the seller, with Chase Properties as the buyer. The portfolio includes four retail properties: Killeen Marketplace in Killeen, Texas; Southloop Crossing in Lufkin, Texas; Southcenter Shopping Center in Hot Springs, Arkansas; and Massard Crossing in Fort Smith, Arkansas, boasting a 97% occupancy rate. This sale allows Ball Ventures to focus on reinvesting in projects closer to their base in Idaho and the Mountain West region, while Chase Properties expands its retail footprint in Texas and Arkansas. The transaction was expertly managed by JLL's Investment Sales and Advisory team, led by Senior Managing Directors Adam Howells and Barry Brown, and Director Erin Lazarus.

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