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News release

Atlanta

Jones Lang LaSalle Brokers the Sale of Deerfield Towne Center in Cincinnati


ATLANTA, Dec. 23, 2013 Jones Lang LaSalle announced today it has closed the sale of Deerfield Towne Center on behalf of institutional investors advised by J.P. Morgan Asset Management. Farmington, MI-based, Ramco-Gershenson Properties Trust purchased the 460,664 sf trophy hybrid retail center with grocery, big box, lifestyle and entertainment components.  Deerfield Towne Center is anchored by category-leading retailers Whole Foods, Regal Cinemas 16, Dick’s Sporting Goods, Bed Bath & Beyond, buybuy Baby and Ashley Furniture.

Leading the Jones Lang LaSalle retail investment sales team on this transaction were Managing Directors Kris Cooper and Margaret Caldwell.

“Deerfield Towne Center is a highly sought after institutional quality retail project with strong demographics in an excellent location.  This sale illustrates the increasingly high demand for large Class “A” assets by investors in today’s marketplace,” commented Cooper.

The dynamic Property is located in the heart of the retail corridor on busy Mason-Montgomery Rd, one mile north of I-71, in Mason, an affluent and highly desirable northeast suburb of Cincinnati.

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 more than $45.3 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.

About J.P. Morgan Asset Management – Global Real Assets 

J.P. Morgan Asset Management – Global Real Assets has approximately $68 billion in assets under management and more than 400 professionals in the U.S., Europe and Asia, as of September 30, 2013.  With a 40-plus-year history of successful investing, J.P. Morgan Asset Management – Global Real Assets’ broad  capabilities provide many of the world’s most sophisticated investors with a global platform of real estate, infrastructure, maritime/transport and energy strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions.
J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co., and its affiliates worldwide.

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