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News release

RICHMOND, VA

JLL Tapped to Market 170 Acre Infill Development Opportunity in Richmond

Fully Entitled Mixed Use Site at the Center of Richmond Region


RICHMOND, VA, JULY 9, 2014 - JLL announced today that it has been hired to market Parkway Crossings at Bon Air, a nearly 170-acre infill development opportunity in the Richmond, Virginia market.

The property is situated at the intersection of Chippenham (VA-150) and Powhite (VA-76) Parkways in Chesterfield County, about eight miles southwest of Richmond's central business district in the suburban community of Bon Air. The parkways provide excellent regional access from the city of Richmond, and Henrico, Chesterfield, Powhatan and Goochland Counties. Adjacent to the 1.4 million-square-foot Boulders Office Park, HCA’s 466-bed Chippenham Hospital, the 100-acre Powhite Park, Chippenham Forest Square and The Shops at Stratford Hills shopping center, the site is fully entitled for mixed-use development, including substantial density in retail, office, hospitality, healthcare and residential uses.  The property will provide experienced large-scale developers with a unique opportunity to bring multiple uses to the region at a singular location.

"The Richmond market has recently seen an influx of destination retailers and regionally oriented anchor stores intending to capitalize on the consistent and stable growth in this market," said JLL’s Gareth Jones. “This site is an important, visible and entitled in-fill opportunity with attractive features, demographics and accessibility that support a variety of uses. Richmond has embraced the national trend of mixed use development which is supported by the entitled development densities at this site. We expect strong, widespread interest from developers."

Parkway Crossings at Bon Air is divided into three primary parcels. The largest parcel is 106 acres to the north of Powhite Parkway and fronting Chippenham Parkway. A second 50 acre parcel fronts Chippenham Parkway south of Powhite Parkway, and is bounded by Jahnke Road. The third consists of the two remaining tracts, 11 and five acres respectively, at either side of the entrance to the Boulders Office Park at Boulders Parkway and Jahnke Road.

Greg Ferrante, Senior Vice President and Gareth Jones, Senior Associate, will lead the assignment.

About JLL
JLL (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. ​