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PHILADELPHIA, March 5, 2013 — Jones Lang LaSalle today announced the firm has closed the sale of Red Lion Plaza for Onyx Equities and Invesco Real Estate. A private buyer purchased the 229,204 s.f.-square-foot retail shopping center that is 95 percent occupied. The property is anchored by Best Buy, Staples, American Signature and Planet Fitness.
Leading the Jones Lang LaSalle team on this transaction was Managing Director Joseph Garibaldi, Senior Vice President Jim Galbally along with Dave Wojciechowski and Doug Rodio.
The shopping center is located at the intersection of Roosevelt Boulevard and Red Lion Road in Northeast Philadelphia. The sale of Red Lion Plaza represents that largest retail transaction in Philadelphia since 2006.
As the leader in retail investment sales in the Philadelphia region, the Jones Lang LaSalle Capital Markets team completed over 1,500,000 square feet in transactions in 2012 and is currently marketing over 1,000,000 square feet of shopping centers throughout Pennsylvania and New Jersey.
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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 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 LaSalleJones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management. For further information, visit www.jll.com.
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