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News release

CHICAGO, IL

Kendall Marketplace in Suburban Chicago Trades to Kendall Holdings I, LLC.

Uptick in investor appetite for power centers with strong, in-place anchor tenants


CHICAGO, July 9, 2015 – JLL’s Capital Markets experts today announced the sale of Kendall Marketplace on behalf of an American multinational banking and financial services corporation. Chicago-based Kendall Holdings I, LLC., purchased the 191,736--square-foot, class “A” power center located in suburban Chicago. The property is currently anchored by Dick’s Sporting Goods, Marshalls and PetSmart, and shadow-anchored by Super Target, Home Depot and Kohl’s.

Managing Director Kris Cooper led the JLL team on this transaction.

“The sale of Kendall Marketplace illustrates the continued recovery of retail centers in suburban Chicago, especially those with in-place solid anchors. The new ownership has an opportunity capitalize on the tremendous growth potential in the area, and attract tenants to the available outparcels and to develop the additional 155,000 square feet of retail space as the market demands,” added Cooper.

Kendall Marketplace is strategically located in Yorkville, a west suburb of Chicago in Kendall County. The 5-mile area surrounding the property is expected to grow by nearly 13 percent during the next five years. Kendall Marketplace is located on US Hwy 34, one of the primary East/West corridors in west Chicago that also provides convenient access to IL Hwy 47, the main North/South corridor in Yorkville.

JLL 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 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.
 
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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. A Fortune 500 company 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 $55.3 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.