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LAS VEGAS, May 18, 2014 — JLL’s Retail experts today announced the firm has been retained by DeBartolo Development to provide pre-opening management services for Ka Makana Ali‘i, in addition to managing the center upon completion. The shopping center is located in Kapolei, West O‘ahu, which is the fastest growing area in Hawai‘i. The $500-million project is set to be built on 67 acres of Department of Hawaiian Home Lands at the intersection of Kapolei and Kualaka‘i Parkways, and upon completion Ka Makana Ali‘i will be the third largest shopping center in Hawaii.
Leading the JLL team on this project is Kirk Horiuchi, Retail Market Lead for Hawaii.
“The retail market is evolving daily and Ka Makana Ali’i will be far different than any other traditional mall by focusing on creating an experience for customers that will include live entertainment, unique shops and dining opportunities,” said Horiuchi. “As the first regional shopping center to be built on O‘ahu in 30 years, we are thrilled to team up with DeBartolo Development to provide pre-opening management services for this new ground-up development and to manage the center when its fully built.”
The 1.4 million-square-foot Ka Makana Ali‘i will feature more than 100 shopping, dining and entertainment offerings, a department store, two hotels and LEED-certified office space. A traditional Hawaiian blessing was held at the site in late January 2014, and groundbreaking for the first phase will occur in late 2014 with a projected opening in 2016.
“Leveraging its global expertise and local experience managing other regional shopping centers in Hawaii, we believe JLL is the perfect partner to make Ka Makana Ali‘i a success,” said Rich Hartline, Vice President of Development at DeBartolo. “This is an important milestone for our project as we move toward breaking ground later this year.”
The community-focused center will highlight Hawaiian traditions through its architectural vision, including stage areas and feature spaces for performing arts and other cultural and community performances.
Edward Kobel, President and Chief Operating Officer of DeBartolo Development concluded, “With the addition of JLL to our growing local team led by Rich Hartline, DeBartolo Development’s commitment to Hawai‘i and Ka Makana Ali‘i has never been stronger.”
JLL Retail’s Hawai‘i property management portfolio includes 4.1 million square feet of shopping center throughout the islands.
JLL’s Retail Group serves as the industry’s leader in retail real estate services. The firm’s more than 850 dedicated retail experts in the Americas partner with investors and occupiers around the globe to support and shape investment and site selection strategies. Its retail specialists provide independent and expert advice to clients, backed by industry-leading research that delivers maximum value throughout the entire lifecycle of an asset or lease. The firm has more than 80 retail brokerage experts spanning 20 major markets, representing more than 100 retail clients. As the largest third party retail property manager in the United States, JLL’s retail portfolio has 305 centers, totaling 65.7 million square feet under management in regional malls, lifestyle centers, grocery-anchored centers, power centers, central business districts, transportation facilities and mixed-use projects.
For more news, videos and research from JLL’s Retail Group, please visit: www.jllretail.com
About JLLJLL (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 fee revenue of $4 billion, JLL has more than 200 corporate offices and operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $48.0 billion of real estate assets under management. For further information, visit www.jll.com.
About DeBartolo Development, LLCBuilt on a legacy of more than six decades, the DeBartolo name is recognized as an icon in the real estate industry. Since its beginnings in 1944 when legendary entrepreneur Edward J. DeBartolo, Sr. pioneered the first shopping mall concept and developed some of the most well-known and nationally- recognized shopping landmarks, the company’s legacy has been synonymous with success. Continuing the family tradition with the same entrepreneurial spirit, Edward J. DeBartolo, Jr., former owner of the five-time Super Bowl Champion San Francisco 49ers and two-time Stanley Cup Champion Pittsburgh Penguins, and his brother, Edward Kobel, have evolved DeBartolo Development into one of the largest private real estate investment and development companies in the country. Today, DeBartolo Development invests in real estate assets of all sizes and scopes, specializing in opportunistic acquisitions and market-driven, ground-up development of multifamily, hospitality, retail and mixed-use projects throughout the United States. DeBartolo Development combines experience, sound research and market foresight with institutional partnerships and strong lender and broker relationships to meet the unique challenges of today's real estate environment. For more information, please visit debartolodevelopment.com.
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