JLL Income Property Trust Expands Portfolio with Retail Center in Huntsville, Alabama
JLL Income Property Trust, a prominent player in the real estate investment trust sector, has recently announced its acquisition of Westbury Square, a popular community retail center nestled in Huntsville, Alabama. This acquisition, valued at roughly $32 million, highlights JLL's strategic growth and focus on high-quality retail investments.
The Westbury Square retail center spans approximately 115,000 square feet and boasts a 100% occupancy rate. It features a diverse lineup of retail tenants, including two national retailers known for their value-driven offerings. The average lease term across these tenants is six years, indicating stability and potential for long-term investment returns.
Located in South Huntsville, the center is strategically positioned on a main thoroughfare, ensuring visibility and accessibility for local shoppers. Its proximity to essential neighborhood amenities such as hospitals, parks, and schools not only enhances its attractiveness but also drives consistent foot traffic.
Huntsville is experiencing considerable economic growth, particularly in the aerospace, defense, and advanced manufacturing sectors. This development has earned the city a reputation as an economic hub in northern Alabama, drawing in new residents due to its appealing combination of affordable living, top-notch educational facilities, and well-paying job opportunities.
Allan Swaringen, President and CEO of JLL Income Property Trust, expressed enthusiasm about the acquisition, stating, "Westbury Square is a strategic addition to our retail portfolio. We focus on properties with strong demographics, favorable operational fundamentals, and reputable tenant lineups. Given its solid tenant roster and the low vacancy rates in the submarket, this property is a highly attractive investment for us."
Since its establishment in 2012, retail real estate has played an essential role in the JLL Income Property Trust portfolio. As of late November 2025, retail investments accounted for 12% of their $7 billion portfolio, translating to an impressive $765 million spread over 15 retail properties.
JLL Income Property Trust is a daily NAV REIT that specializes in managing a well-diversified array of income-generating real estate assets across various sectors including residential, industrial, grocery-anchored retail, healthcare, and office properties in the U.S. Looking ahead, the trust anticipates further diversification of its portfolio, with potential global opportunities on the horizon.
For more information about JLL Income Property Trust and its investment strategies, visit their official website at www.jllipt.com. Furthermore, their parent company, LaSalle Investment Management, is recognized globally for its real estate investment management expertise, managing assets worth approximately $88.5 billion as of the second quarter of 2025.
In conclusion, JLL's acquisition of Westbury Square exemplifies their commitment to strategic investments in quality retail properties with reliable returns. As the Huntsville area continues to expand economically, JLL's foresight in investing in this community retail center may yield substantial benefits for both its portfolio and the region's growth.
This forward-looking approach aligns with the increasing demand for integrated commercial spaces, especially in areas where economic development is thriving. JLL Income Property Trust's continuous efforts in exploring promising markets suggest a positive trajectory in both their investment strategy and overall market impact.
The Westbury Square retail center spans approximately 115,000 square feet and boasts a 100% occupancy rate. It features a diverse lineup of retail tenants, including two national retailers known for their value-driven offerings. The average lease term across these tenants is six years, indicating stability and potential for long-term investment returns.
Located in South Huntsville, the center is strategically positioned on a main thoroughfare, ensuring visibility and accessibility for local shoppers. Its proximity to essential neighborhood amenities such as hospitals, parks, and schools not only enhances its attractiveness but also drives consistent foot traffic.
Huntsville is experiencing considerable economic growth, particularly in the aerospace, defense, and advanced manufacturing sectors. This development has earned the city a reputation as an economic hub in northern Alabama, drawing in new residents due to its appealing combination of affordable living, top-notch educational facilities, and well-paying job opportunities.
Allan Swaringen, President and CEO of JLL Income Property Trust, expressed enthusiasm about the acquisition, stating, "Westbury Square is a strategic addition to our retail portfolio. We focus on properties with strong demographics, favorable operational fundamentals, and reputable tenant lineups. Given its solid tenant roster and the low vacancy rates in the submarket, this property is a highly attractive investment for us."
Since its establishment in 2012, retail real estate has played an essential role in the JLL Income Property Trust portfolio. As of late November 2025, retail investments accounted for 12% of their $7 billion portfolio, translating to an impressive $765 million spread over 15 retail properties.
JLL Income Property Trust is a daily NAV REIT that specializes in managing a well-diversified array of income-generating real estate assets across various sectors including residential, industrial, grocery-anchored retail, healthcare, and office properties in the U.S. Looking ahead, the trust anticipates further diversification of its portfolio, with potential global opportunities on the horizon.
For more information about JLL Income Property Trust and its investment strategies, visit their official website at www.jllipt.com. Furthermore, their parent company, LaSalle Investment Management, is recognized globally for its real estate investment management expertise, managing assets worth approximately $88.5 billion as of the second quarter of 2025.
In conclusion, JLL's acquisition of Westbury Square exemplifies their commitment to strategic investments in quality retail properties with reliable returns. As the Huntsville area continues to expand economically, JLL's foresight in investing in this community retail center may yield substantial benefits for both its portfolio and the region's growth.
This forward-looking approach aligns with the increasing demand for integrated commercial spaces, especially in areas where economic development is thriving. JLL Income Property Trust's continuous efforts in exploring promising markets suggest a positive trajectory in both their investment strategy and overall market impact.
Topics General Business）
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