News release

Former grocery site in Amarillo, Texas acquired by new owner

JLL completes sale of 63,000-square-foot property on behalf of MAL Enterprises, Inc. & Super Market Developers, Inc.

December 05, 2019

DALLAS, December 5, 2019 – JLL announced the successful sale of a 5.15-acre, 63,231-square-foot retail property in Amarillo, Texas today. The former grocery store site was acquired by STORE Capital.

JLL’s Michael Meaden completed the sale on behalf of AL Enterprises, Inc. & Super Market Developers, Inc. CBRE’s Zach Ballenger represented the buyer.

“Big box sites such as this one centrally located within a dense mature market provide unique, long-term investment opportunities through traditional means, such as serving as a gateway to welcome new tenants to the market,” said Meaden. “The site will be an attractive to retailers relying on frequent repeat traffic and service tenants looking for a core location to serve this submarket. We are glad to play a role in its disposition. This property is in great hands.”

According to JLL’s 2019 US Grocery Tracker, investors remain bullish as grocery remains one of the resilient subsets of retail. Though the number of single-asset grocery transactions have declined 5.8% since 2016, the average price per square foot has increased 7.8% during that same period. In 2018, investment activity in grocery real estate product reached $9.9 billion.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit