Jones Lang LaSalle Web Site - April 28, 2009
Jones Lang LaSalle is currently marketing a 715,000-square-foot portfolio of retail assets for sale and leaseback by Burlington Coat Factory. Burlington Coat Factory will leaseback the nine properties, located in some of the strongest retail markets in the United States, for a minimum of 15 years. The properties are available for purchase either individually or as a portfolio.
Leading the Jones Lang LaSalle team on this assignment is Managing Director Bruce Westwood-Booth and Vice President Ben Herrig.
“These assets are strategically located in the strongest retail real estate markets in the country, and should appeal to a wide scope of national and international investors seeking to purchase well-established, high-quality retail locations providing long-term cash flow,” said Mr. Westwood-Booth.
This portfolio of nine retail assets includes a mix of regional mall anchor locations, power center/neighborhood anchor sites and stand alone stores. They are located in Chicago, Los Angeles, Houston, Broward County, Northern New Jersey, Boston, Orlando and two locations in and around Phoenix. Burlington Coat Factory plans to enter into 15-year, absolute triple-net leases with two percent annual escalations at each location. All of the stores have been updated or renovated within the past few years and are strong performers for the company.
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