Two regional retail centers sold on behalf of Walton Street Capital
JLL Capital Markets led sales efforts for Town Square in Indiana and Silver State in Nevada; Albanese Cormier purchases both properties
CHICAGO, Jan. 4, 2021 – JLL Capital Markets announced today that it has closed the sale of Town Square, a 138,571-square-foot, regional shopping center in Schererville, Indiana, and Silver State Plaza Shopping Center, a 155,471-square-foot, regional retail center in Sparks, Nevada.
JLL marketed the properties on behalf of the seller, Walton Street Capital, in two separate transactions. Albanese Cormier was the buyer of both centers.
Town Square is positioned about 45 minutes from downtown Chicago, along Indianapolis Blvd. (Highway 41), which has a daily traffic count of more than 40,000 vehicles. Completed in 2001, the retail center is anchored by Bed Bath & Beyond and TJ Maxx and features top-tier national and regional tenants, including Old Navy and Shoe Carnival, among others.
Silver State Plaza Shopping Center is located at 410-790 N McCarran Blvd. at the high-traffic intersection of McCarran Blvd. (29,300 cars per day) and Prater Way (17,700 cars per day). The 26.15-acre site also offers direct access to Interstate 80, expanding the center’s reach. The 96.7%-leased property is home to a diverse mix of daily needs and service-oriented tenants, including Ross Dress for Less, Dollar Tree, Planet Fitness, Wendy’s and CVS Pharmacy.
The JLL Retail Capital Markets team representing the seller for Town Square was led by Managing Directors Clinton Mitchell and Amy Sands.
JLL’s Retail Capital Markets team representing the seller for Silver State was led by Managing Director Gleb Lvovich (NV. Lic. #S.0189602) and Directors Daniel Tyner and Tony Ensbury.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
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 $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Walton Street Capital
Walton Street Capital, L.L.C. is a private equity real estate investment firm. Since its founding in 1994, affiliates of Walton Street Capital have received total equity and loan commitments of approximately $14 billion from public and corporate pension plans, foreign institutions, insurance companies and banks, endowments and foundations, trusts, and high net worth individuals. Affiliates of Walton Street Capital have invested and/or committed to invest over $12 billion of equity in more than 500 separate transactions.
About Albanese Cormier
Since 2001, Albanese Cormier has been acquiring, managing, leasing and developing real estate properties across the United States. Through a clear vision, selective choices, creative hiring, skilled management and a dedicated staff, the firm has been able to consistently grow a sustainable portfolio that has exceeded 6.5 million square feet of real estate spread throughout 25 states since inception. As the industry continues to evolve, the firm has positioned itself as the clear leader in the “New” reality that is retail real estate. The firm refers to this as Retail Unplugged™. This is simply a proprietary 21st century way to imagine brick and mortar retail. Think of it as a stable, analog solution to an increasingly volatile, digital world. By owning, managing and leasing retail projects that are resistant to the ups and downs of the economy, as well as significantly less impacted by online sales, the firm ensures sustainable growth and financial stability.