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News release

GREEN BAY

Sale Completed for East Town Mall in Green Bay, WI

JLL completes sale of 198,652-square-foot regional mall


GREEN BAY, February 2, 2017 JLL (NYSE:JLL) Retail Capital Markets today announced the sale of East Town Mall located in Green Bay, Wisconsin. The mall was acquired an affiliate of New Jersey-based Lexington Realty International LLC and New York-based Case Equity Partners, LLC.   

JLL Executive Vice President Rebecca Wells led the team on behalf of the seller.   

East Town Mall is situated on approximately 21 acres of prime commercial land at the center of one of the most densely developed residential areas on the east side of Green Bay.  Anchored by Petco, Hobby Lobby and Office Max, the property is also shadow-anchored by Kohl's, Aldi and Shopko.  The site offers excellent frontage and visibility along East Mason Street, an east-west commercial corridor providing tremendous access to the greater Green Bay area.             

"In evaluating this opportunity, we felt that the property fits our portfolio and investment criteria of value add properties," said Eric Frankel, Vice President of Lexington. "In particular, we seek older properties in underserved communities to reinvent as an area destination. We are confident that once redeveloped, the East Town Mall project will be just that for the fast growing east side of Green Bay."  

Addressing what drew him to the project, Shlomo Chopp, Managing Partner of Case gives credit to the forward looking and business friendly environment of Green Bay.  

"Nationally, there are many mall redevelopment opportunities, but Mayor Schmitt and Economic Development Director Kevin Vonck gave us comfort that we will have a partner in the process," said Chopp. "As a direct result of their hard work and dedication, the east side community and the city as a whole can look forward to continued growth and prosperity."  

For more information on Lexington Realty International LLC please visit www.LexingtonCo.com and for more information on Case Equity Partners please visit www.caseinv.com.

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 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 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.  JLL is a Fortune 500 company with, as of December 31, 2015, revenue of $6.0 billion and fee revenue of $5.2 billion, more than 280 corporate offices, operations in over 80 countries and a global workforce of more than 60,000.  On behalf of its clients, the company 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. As of September 30, 2016, its investment management business, LaSalle Investment Management, has $59.7 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