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News release

Huntington, NY

Jones Lang LaSalle closes $40+ sale of Long Island Shopping Center

Canadian REIT purchases grocery-anchored property


HUNTINGTON, NY, July 27, 2011 —Jones Lang LaSalle’s Capital Markets experts today announced the firm has closed the sale of Huntington Square Plaza for a group of tenant-in-common investors sponsored by Oak Brook, Illinois-based Inland Private Capital Corporation.  The grocery-anchored shopping center is located in Huntington, New York on Long Island.  Toronto-based RioCan Holdings purchased the Class A, 116,221-square-foot center for $40.2 million.  The property is long-term leased and 100 percent occupied by one of the Northeast’s largest supermarket chains, Stop & Shop, and the country’s top consumer electronics specialty retailer Best Buy.

Leading the Jones Lang LaSalle team on this transaction was Managing Directors Kris Cooper, Margaret Caldwell, Dave Wojciechowski and Associate Dan Zatloukal.

“Huntington Square Plaza received a great deal of interest from the institutional investment community as it offered a core asset in a prime location with limited supply and high barriers to entry,” said Cooper.  “In particular, we secured a significant amount of attention from Canadian investors.  RioCan Holdings was attracted by the long-term security of two such high quality, investment-grade tenants.”

Huntington Square Plaza is located along the retail corridor of East Jericho Turnpike/NY 25, a major east-west artery that begins in Midtown, Manhattan and spans Long Island.  The property has strong demographics with a population of 76,355 and an average household income of $128,218 within a three-mile radius. 

Jones Lang LaSalle 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 our clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2010 alone, Jones Lang LaSalle Capital Markets completed $43 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $33 billion in global investment sales and buy-side transactions, equating to nearly $140 million of investment trades completed every working day around the globe. In the United States, Jones Lang LaSalle grew its office broker volumes by 257 percent in 2010 and is quickly gaining market share across all property types. The firm’s Capital Markets team comprises approximately 800 specialists, operating in 185 major markets worldwide.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $45.3 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.