Boston, May 29, 2007 – Jones Lang LaSalle Retail was retained by Walton Street Capital as managing agent for two regional malls totaling nearly 1.4 million square feet of space. The Mall at Whitney Field, one of Leominster’s premier retail destinations, is a 658,000-square-foot retail center located just 35 miles northwest of Boston. The Hanover Mall is a 706,000 square-foot regional center, 22 miles from Boston in south suburban Hanover.
Walton Street Capital acquired both The Hanover Mall and The Mall at Whitney Field in early May from Atlanta developer Gregory Greenfield & Associates.
Jones Lang LaSalle General Managers are Ed Callahan at The Hanover Mall and Liz Kelley at The Mall at Whitney Field.
“We have had a dedicated staff assigned to both The Mall at Whitney Field and The Hanover Mall since 2003,” said Greg Maloney, President and CEO of Jones Lang LaSalle Retail. “We are very pleased that Walton Street Capital recognizes our efforts at both properties and has confidence in our ability to move forward on these high-profile assignments.”
Ideally located at Route 2 and Interstate 190, The Mall at Whitney Field is the only regional mall within a 20-mile radius. Tenants include Circuit City, Chuck E. Cheese’s, Gap/Gap Kids, JCPenney, Macy’s, Old Navy, Panera Bread, and Sears. It was originally built in 1967 and in 2004 underwent a comprehensive renovation including the development of a new food court and children’s soft play area with parent seating.
Located at Routes 3 and 53, The Hanover Mall features a sports-themed interactive kid soft play area and a variety of retail tenants, including: Macy’s, JCPenney, Aeropostale, Limited/Limited Too, Trader Joes, American Eagle Outfitters, and Panera Bread.
About Walton Street Capital, LLC
Walton Street Capital, LLC was founded in 1995 and is a premier, private real estate investment company, which, through its series of opportunistic and value-added funds, has invested and/or committed to invest approximately $3.3 billion of equity. Through its Funds, Walton Street has received equity commitments totaling in excess of $3.5 billion from public and corporate pension funds, foreign institutions, insurance companies and banks, endowments and foundations, trusts and high net worth individuals. Walton Street has invested and/or committed to invest in approximately 160 separate transactions in U.S. and international real estate, including the development and acquisition of office, hotel, retail, industrial, multi-family, for-sale residential, senior and student housing, and golf assets through both individual, portfolio and company-level transactions with a gross asset cost of approximately $10.3 billion.
About Jones Lang LaSalle Retail
In the United States, Jones Lang LaSalle Retail is the largest third-party shopping center manager with a 35-million-square-foot portfolio of more than 60 regional malls and transportation terminals across 25 states and the Caribbean. Jones Lang LaSalle (NYSE: JLL), the only real estate money management and services firm named to FORTUNE magazine’s “100 Best Companies to Work For” and Forbes magazine’s “400 Best Big Companies,” has a portfolio of 982 million square feet of property under management worldwide, including more than 280 shopping centers on four continents. For more information on Jones Lang LaSalle Retail, visit www.jllretail.com.