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News release


Brookhaven Shopping Center Trades to Invesco Real Estate

JLL completes the sale on behalf of Katz Properties

BROOKHAVEN, PA, July 26, 2017 – On behalf of Katz Properties, LLC, of New York City, JLL's Capital Markets experts today announced the company completed the sale of the 211,758-square-foot Brookhaven Shopping Center in Brookhaven, Pennsylvania. The Shoprite and Lowes anchored property traded to Invesco Real Estate, a global real estate investment manager.

JLL's Managing Directors Chris Angelone and Jim Galbally led the team on the sale.

"We're seeing institutional investors continue to target grocery-anchored assets in infill markets throughout the Northeast and Mid-Atlantic due to their stability and liquidity," said Angelone. "Katz Properties did an excellent job repositioning the shopping center, which helped bolster investor interest, by signing new leases with reliable leaders in the market."

"We worked hard to transform this center over the past two years with our retailer partners, especially Shop Rite, Lowe's and PetSmart. Along the way, JLL provided critical insight on positioning this shopping center in the marketplace," said Eric Wolf, Vice President at Katz Properties.

"Investors were especially attracted to this asset because of the long term leases and credit profile, which ultimately led to it being the right fit for Invesco Real Estate," said Galbally.

The property is located along State Route 352 in Brookhaven's busy retail corridor, with many other national tenants in the surrounding area. The center also features signage on the main road that sees 23,000 cars driving by daily. The area is densely populated, with over 209,000 people living within a five mile radius.

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 2016 alone, JLL Capital Markets completed $145 billion in investment sale, 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 leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Invesco

Invesco is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life.  NYSE: IVZ;

About Invesco Real Estate

Invesco Real Estate is a global leader in the real estate investment management business with $66 billion in real estate assets under management, 451 employees and 21 regional offices across the U.S., Europe and Asia. The firm was established in 1983 and has been actively investing in core, value-add and opportunistic real estate strategies since 1992. Invesco Real Estate is a business name of Invesco Advisers, Inc. which  is an indirect, wholly owned  subsidiary of Invesco Ltd., (NYSE: IVZ), one of the largest investment management firms in the world with $834.8 billion in assets under management and on-the-ground presence in 29 cities worldwide. Information as of March 31, 2017.