JLL Income Property Trust acquired Westbury Square, a community retail center in Huntsville, AL, for $32 million.
The center is 100% leased to a diverse mix of retail tenants with a six-year average lease term.
Located in South Huntsville, the property benefits from its proximity to key amenities and the region's economic development.
Acquisition Details
JLL Income Property Trust acquired Westbury Square for approximately $32 million, adding to its retail portfolio.
Tenant Diversification
The center is fully leased to a mix of retail tenants, including national retailers, enhancing revenue stability.
Market Positioning
Situated in a submarket with limited vacancy, Westbury Square is strategically positioned for long-term growth.
- The acquisition strengthens JLL Income Property Trust's retail portfolio and aligns with its core investment strategy.
- Westbury Square's location and tenant profile provide a stable income stream and potential for value appreciation.
The addition of Westbury Square enhances JLL Income Property Trust's retail holdings, reflecting its focus on quality assets with strong fundamentals.