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Bill Moston joins JLL to support demand for national retail development consulting and project management for ground-up construction and mall renovations
CHICAGO, Feb. 26, 2015 — The retail industry is facing the greatest amount of development and redevelopment activity since 2010. To meet the increased demand for retail project management and development expertise, JLL today announced the expansion of its retail team with the addition of Bill Moston. Moston joins JLL as a Senior Vice President, National Retail Development and brings nearly 30 years of experience to JLL. He will be based out of the firm’s Chicago office. In his new role, Moston will be responsible for advising JLL’s clients and executing on ground-up retail projects, redevelopments and renovations across the United States, as well as managing anchor store negotiations and tenant coordination.
“Adding Bill to our development team will allow JLL to better advise its clients seeking to update or create new retail space. His experience counseling and partnering with owners and investors on how to best align projects with market demand and retailer requirements will provide a huge advantage to JLL’s clients,” Larry Jensen, Senior Director of Retail Development at JLL.
JLL research indicates that nearly 50 million square feet of retail spaces was delivered in 2014 with general retail space, including the construction of urban storefronts, driving the development market. The uptick in mall construction has also grown significantly, with total U.S. mall deliveries in 2014 rising nearly 43 percent year-over-year.
“Shopping center owners and investors held off updating their centers during the downturn, but now we’re finally seeing these assets getting capital allocated for renovations or expansions,” said Moston. “I am thrilled to join JLL and look forward to growing the retail development business, and partnering with owners on their development and construction needs during this exciting time for the retail industry.”
Moston started his career in retail at the Homart Development Company, and then led regional development and redevelopment teams for General Growth Properties for more than 10 years. In 2006, Moston jumped to the investment side of the business, and spent time at the Archon Group, a Goldman Sachs Company, where he was responsible for sourcing and developing retail investment opportunities. Following Archon, Moston was with JP Morgan and most recently served as a Relationship Manager at Credit Suisse. Moston has overseen a variety of development and redevelopment projects from mall renovations to open air mixed use projects totaling more than 20 million square feet of retail space across the country. Moston holds a bachelor’s degree from Purdue University and an MBA from the University of Notre Dame.
According to JLL research, Dallas, Houston and Washington, D.C. rank the top markets for overall retail construction activity by square feet. New York City and Miami take the top slots for the most construction as percentage of total square feet, with more than one percent of their total retail gross leasable area under construction.
JLL’s Retail Group serves as the industry’s leader in retail real estate services. The firm’s more than 800 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 90 retail brokerage experts spanning more than 25 major markets, representing more than 440 retail clients. As the largest third party retail property manager in the United States, JLL’s retail portfolio has 350 centers, totaling 67 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 further information, visit www.jllretail.com
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 $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $53.6 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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