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News release

TERRA HAUTE

Sale Completed for Riverside Plaza in Terre Haute, Indiana

JLL completes sale of community shopping center with value-add potential


TERRA HAUTE, February 2, 2017 – On behalf of Horizon Trust & Investment Management, JLL (NYSE:JLL) Retail Capital Markets today announced the sale of Riverside Plaza and Bourbon & Canal, both of which are located on U.S. 41 in Terre Haute, Indiana.  RCG Ventures of Atlanta, Georgia, purchased the properties, which share signal access with the 680,000-square-foot Honey Creek Mall. 

JLL Executive Vice President Rebecca Wells represented Horizon Trust & Investment Management on the sale and RCG's Jeff Miller, Vice President of Acquisitions, represented RCG in the deal.

Riverside Plaza is located south of I-70 along U.S. Highway 41 with excellent frontage and visibility to more than 41,000 vehicles per day.  This submarket surrounding the Honey Creek Mall has long been known as one of the state's strongest retail trade areas due to its extensive draw from the eastern-central portion of the state.   Terre Haute is also an important college town as the home of Rose Hulman Institute of Technology, one of the top 25 engineering colleges in the U.S., as well as Indiana State University. Riverside Plaza is anchored by Burlington Coat Factory, Catherine's, Aaron's Rental and QDoba. 

RCG Ventures plans to create value through conversion of existing leases to market rents, the lease up of available space and the potential development of a new outparcel facing U.S. 41.   

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