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ATLANTA, JUNE 7, 2013 — Jones Lang LaSalle announced today it has closed the sale of the first phase of a multi –phase project named Hancock Village on behalf of Virginia-based Edco, LLC , in the Chesterfield submarket of Richmond, Virginia. An affiliate of Arizona-based Cole Real Estate Investments purchased the 153,853-square-foot shopping center anchored by Dick’s Sporting Goods and Hobby Lobby and shadow anchored by Walmart Supercenter.
Managing Directors Margaret Caldwell and Kris Cooper led the Jones Lang LaSalle Retail Investment Sales team on this transaction. Cole Real Estate Investments was represented by Chelsey Ginder, Manager of Multi-Tenant Acquisitions.
“Cole purchased a desirable, well-tenanted property in the heart of a high growth area,” commented Caldwell. “This type of quality, class ‘A’ retail product is in strong demand by investors and tenants currently looking to expand into growth markets with significant incomes.”
Hancock Village, which is 100 percent leased, is located on the southwest corner of the intersection of Highway 360 and Winterpock Road.
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 2012 alone, Jones Lang LaSalle Capital Markets completed $63 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $60 billion in global investment sales and buy-side transactions, equating to nearly $240 million of investment trades completed every working day around the globe. The firm’s Capital Markets team comprises more than 1,300 specialists, operating all over the globe.
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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 LaSale 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 and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management. For further information, visit www.jll.com.
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