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JLL adds more than 1.3 million square feet of space to its portfolio under management
LOS ANGELES, April 3, 2017 – JLL today announced the firm has been retained to provide property management services for Glendale Marketplace located in Glendale, California and Burbank Town Center located in Burbank, California. The two centers total more than 1.3 million square feet of retail space.
"We're thrilled to have the opportunity to connect these assets to the community and work with the asset team to create vibrant retail destinations," said Karen Raquet, Director of Retail Property Management for JLL.
Burbank Town Center is a 1.2 million square foot shopping center consisting of an enclosed mall and eight outparcel buildings, situated in the heart of downtown Burbank at the intersection of I-5 and Burbank Boulevard. The property has been a fixture in the Burbank community for nearly two and half decades and was originally built in the 1990's. The center is anchored by Macy's, Sears, Burlington, AMC Theaters, Ashley Furniture, Crunch Fitness, Old Navy and Barnes & Noble. After a nearly $60 million complete makeover, Burbank Town Center is pleased to announce new tenants such as Cost Plus, H&M, Carters and Shoe Palace and will have several new announcements later in 2018. In addition, CAPREF Manager is working in conjunction with Costa Mesa-based Crown Realty & Development to create a mixed-use development centered around the enclosed mall by adding housing, additional street retail and a 200 key hotel on N. San Fernando.
Glendale Marketplace is a conveniently located, 153,525-square-foot, open-air retail and entertainment center in the epicenter of the Glendale retail district, across the street from the Americana at Brand. The center encompasses 2.2 acres in the middle of the block south of Broadway and is home to several national retailers including AT&T, Buffalo Wild Wings, DSW, HomeGoods, Outback Steakhouse, LA Fitness and a new Ross Dress For Less (opening soon).
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 2017, JLL had revenue of $7.9 billion, managed 4.6 billion square feet, or 423 million square meters, and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000. As of December 31, 2017, LaSalle had $58.1 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.
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