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News release

WASHINGTON, DC

JLL Selected as Exclusive Listing Agent for Woodmore Towne Centre

Mid-Atlantic retail team adds to its already impressive management portfolio


WASHINGTON, DC, September 27, 2016 – JLL has been chosen to manage the retail leasing for the Woodmore Towne Centre, a flourishing development minutes from the Capital Beltway east of Washington, DC. The development currently operates over 700,000 square feet of retail space anchored by Wegmans, Costco, J.C. Penney, Best Buy and Petco in the retail portion of this 245-acre mixed-use development.

The success of existing retail at Woodmore Towne Centre, with steady increases in year-over-year sales and thriving activity, has prompted the expansion into a second phase which has already landed the tenancy of Nordstrom Rack. Phase 2 brings an additional 90,000 square feet of retail space, raising the total to 800,000 square feet, plus 1,100 residential units which are already under development, two hotels and one million square feet of new office space.

"Woodmore Towne Centre is an especially dynamic environment and the retail new expansion is going to add to a complex that already has so much to offer," said Greg Ferrante, Senior Vice President for Retail at JLL. "There is excitement in the market for a development that is well-situated and able to respond to an active clientele."   

Conveniently located in Glenarden, MD at the interchange of I-495 and Landover Road, Rte. 202 in Prince George's County, Woodmore Towne Centre has more than 1,000 feet of frontage on the Capital Beltway. It is a joint development of Petrie Richardson Ventures and Prudential Global Investment Management.

The brokerage team is led by JLL's Thomas Jackman, Andy Corno and Greg Ferrante who already handle leasing at another Petrie Richardson property, The Centre at Forestville, a redeveloped enclosed mall with 463,461 square feet of retail space. Woodmore Towne Centre is the latest success for JLL's Mid-Atlantic retail practice which has grown tremendously in the last year from two people managing only two properties to a collection of 10 talented professionals who oversee 42 properties and millions of square feet of retail space.

JLL is the largest third-party retail property manager in the United States with more than 1,000 centers, totaling 125 million square feet under management. The firm has more than 140 retail brokerage experts spanning more than 30 major markets, representing more than 900 retail clients. In 2015, JLL's retail experts completed transaction management and portfolio optimization on 1,500+ leases, negotiated 500+ leases for retailers and 1,000+ leases for landlords and completed more than $2.7 billion of investment sales, dispositions and financing for investors. For more news, videos and research from JLL's Retail Group 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. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 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.

About Petrie Richardson Ventures 
Petrie Richardson Ventures (PRV) is a retail developer in the Mid-Atlantic region with a national reputation for creating successful retail centers and exciting mixed-use properties. PRV currently owns and operates Ellsworth Place in Silver Spring, MD, Centre at Golden Ring, Rosedale, MD, and Woodmore Towne Centre in Glenarden, MD. For more information, visit www.petrierichardson.com.

About Prudential Global Investment Management 
Prudential Global Investment Management (PGIM) is the global real estate investment business of Prudential Financial, Inc. (NYSE: PRU), and operates as Pramerica Real Estate Investors in markets outside of the Americas, Korea and Japan. Redefining the real estate investing landscape since 1970, PGIM has professionals in 18 cities in the Americas, Europe and Asia Pacific with deep local knowledge and expertise, and gross assets under management of $62.6 billion ($46.3 billion net) as of September 30, 2015. PGIM's tenured team offers to its global client base a broad range of real estate investment vehicles that span the risk-return spectrum across core, core plus, value-add, debt, securities, and specialized investment strategies. For more information, visit http://www.pgimrealestate.com/​