JLL Property Management's Retail Agency Leasing team posts record year in 2022
The property management group sees the leasing and management portfolio grow with lifestyle centers, outlet malls, traditional malls, mixed-use and new development
CHICAGO, March 9, 2023 – A record breaking year, 2022 is a proof-point of success for clients supported by the JLL Property Management’s Retail Agency Leasing team. Harnessing JLL’s deep expertise, the property management retail clients continue to see success in lifestyle centers, outlet malls, traditional malls, mixed-use and new developments across the U.S. and Canada.
The property management retail agency leasing team comprises 27 professionals who leased 79 centers totalling 120.2 million square feet in 2022. This is an impressive 77 percent increase of executed deals over 2021 levels.
“Our property management retail agency leasing team has always been a trusted resource for real estate investors, owners and occupiers, and our business has continued to evolve in the last couple years to meet the changing needs of clients,” said Paul Chase, Executive Vice President, Property Management Retail, Agency Leasing, JLL. “We pride ourselves in giving our clients the best service and adding value to their strategies and portfolio by providing a team with deep expertise in retail property management that offers clients an end-to-end approach spanning the full depth and breadth of the firm’s expertise.”
Highlights of the team’s success in 2022 include:
- 77 percent increase in executed deals from 2021, underscoring the value added for JLL’s clients
- 4.8 million executed deal square footage, an increase of 22 percent from 2021
- 10Twelve, JLL’s Property Management Retail boutique leasing team focused on properties that are as unique and vibrant as the communities they serve, added 18 new properties to its portfolio, bringing the total to 23 properties with 5.7 million square feet
- Entered into a mixed-use development and management strategic partnership with Poag Development Group, formerly Poag Shopping Centers
- Executed 198 leases for over 900,000 square feet at 23 repositioned and C class properties
- Completed outlet center leases totalling nearly 700,000 square feet
“While location is always key, our business is about value creation and value preservation for our clients,” said Kristin Mueller, President, Property Management Retail, JLL. “This team delivered impressive full-year 2022 property management retail results, led by strength in leasing which was incremental to our business to drive future growth. We are kicking off 2023 with strong momentum and are well-positioned to seize the significant opportunities across the commercial real estate sector and continue to generate long-term value for clients.”
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 $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.