JLL awarded third-party property management and accounting contract for Slate Grocery REIT
As grocery sales surge, JLL will support Slate Grocery REIT in managing costs and driving savings throughout its portfolio
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.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.