JLL awarded third-party property management and accounting contract for Slate Grocery REIT

CHICAGO, Feb. 15, 2021 – JLL Retail is pleased to announce it has been appointed as the third-party property management and accounting provider for a portion of Slate Grocery REIT’s portfolio that comprises 51 properties and over 6 million square feet across major U.S. markets in 19 states. JLL will use its expertise as a trusted partner to lead grocers in cash flow generation and support value-building opportunities for Slate’s growing U.S. portfolio.

“Slate has an excellent grocery real estate investment portfolio with many options for creating value through these assets,” said Sondra Van Metre, Executive Vice President, Senior Director of Retail Property Management, JLL.

With the grocery landscape changing faster than ever, investors have a growing need to innovate within their portfolios to maximize the value of their assets. JLL’s property management and accounting expertise will offer Slate added exposure to the world’s largest grocers in both established and emerging markets.

“Our goal is to provide high quality property management and accounting services for Slate as we partner with their team to grow their portfolio diligently over the coming years,” said John Bemis, Executive Vice President, Retail, JLL. “As grocery grows so does the consumer need for convenience and innovation in this space.”

Detailed in JLL’s Better Than Normal: Vision 2021 report, convenience is everything for today’s consumer as the coronavirus continues to accelerate consumers’ preferences towards online ordering and curbside pickup.

“From click and collect to temperature-controlled lockers, the race is on for grocery innovators looking to stand out against competition,” said Van Metre. “The surging channel demand presents an opportune time for retailers to ensure they’re making the best use of every foot of store space, and that starts with re-evaluating and optimizing their real estate portfolio.”