JONES LANG LASALLE INCORPORATED

(JLL)
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Jones Lang LaSalle Incorporated : Growing Dallas-area population fuels retail sale

01/20/2022 | 04:01pm EDT

DALLAS, Jan. 20, 2022 - JLL Capital Markets announced today that it has closed the sale of The Shops at Prosper Trail, an 85,948-square-foot shopping center shadow anchored by a top-performing Kroger in the growing Dallas-area community of Prosper, Texas.

JLL marketed the property on behalf of the seller, MQ Development Company. Younger Partners Investments acquired the asset.

Constructed in 2016, the 98-percent-leased The Shops at Prosper Trail is anchored by a Kroger Marketplace and features a dynamic roster of nation and local tenants that include Anytime Fitness, Wingstop, Ebby Halliday Properties, Republic Title of Texas, Baylor Scott & White Rehab, Pacific Dental Services, Club Pilates, Hollywood Feed, Palm Beach Tan, Eddie Napoli, Eye Gallery, Supercuts and Peach Wave Yogurt. Additionally, the center includes three ground leases.

The Shops at Prosper Trail is at 1145-1160 N. Preston Rd along the iconic Preston Road corridor in Prosper, which is a north Dallas community directly in the growth path within the Dallas-Fort Worth metroplex. The property is surrounded by an affluent and growing population that includes 41,603 residents earning an average annual household income of $181,387 living within a three-mile radius of the property. This represents a 252 percent population increase during the last decade. Additionally, the center is proximate to large employment drivers, the Dallas North Tollway and within high-performing retail submarket.

The JLL Retail Capital Markets team representing the seller was led by Senior Managing Director Adam Howells and Analyst Zach Riebe.

According to JLL, "DFW is the fastest-growing metro area in the country, and the city of Prosper is in the bull's eye, creating unprecedented investor demand."

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 and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

Disclaimer

Jones Lang LaSalle Inc. published this content on 20 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2022 21:00:04 UTC.


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Financials (USD)
Sales 2022 10 269 M - -
Net income 2022 942 M - -
Net cash 2022 262 M - -
P/E ratio 2022 10,1x
Yield 2022 -
Capitalization 9 309 M 9 309 M -
EV / Sales 2022 0,88x
EV / Sales 2023 0,75x
Nbr of Employees 98 200
Free-Float 94,4%
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Last Close Price 187,65 $
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Christian Ulbrich President, Chief Executive Officer & Director
Karen Brennan Chief Financial & Investment Officer
Siddharth N. Mehta Chairman
Allan Frazier Global Chief Information Officer
Benjamin Breslau Chief Research Officer
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