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News release

SAN FRANCISCO, CA

JLL Completes Acquisition of Shelter Bay Retail Group

JLL’s retail property management portfolio grows to 83.5 MSF


​SAN FRANCISCO, Aug. 3, 2015– JLL (NYSE: JLL) has closed the previously announced acquisition of Shelter Bay Retail Group, a retail property management firm based in Mill Valley, California. The transaction adds 74 urban and suburban, open-air shopping centers totaling 6.5 million square feet to bring the firm’s industry-leading third-party retail property management portfolio in the United States to a total of 83.5 million square feet.

The properties now under JLL management include 5.4 million square feet of assets located in the San Francisco Bay Area and San Jose/South Bay, one million square feet in Central and Southern California and another 138,175 square feet of property in Arizona.

Shelter Bay’s entire team of 30 experts has joined JLL, and will continue to manage the portfolio. Sondra Van Metre, former President and CEO of Shelter Bay, will now lead JLL’s West Coast retail property management operations as the Director of Retail Property Management, West Coast.

“Since we announced our intention to join JLL, the client and retailer reception we’ve received is proof positive of the expanded potential we now have as part of a global enterprise,” said Van Metre. “Adding our team to JLL, plus the recently acquired Wilson Retail Group, now positions our firm to lead retail services in the West Coast.”

For additional information on JLL acquiring Shelter Bay Retail Group, please refer to the July 16, 2015 news release.

JLL’s retail business serves as an industry leader in retail real estate services. The firm’s nearly 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 125 retail brokerage experts spanning more than 30 major markets, representing more than 670 retail clients. As the largest third-party retail property manager in the United States, JLL’s retail portfolio has more than 620 centers, totaling 83.5 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 business please 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 $56.0 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.