JLL Income Property Trust Acquires Vegas Retail Center for $63M

JLL Income Property Trust Montecito Marketplace, acquired a 190,000 square-foot high-volume grocery-anchored neighborhood shopping center located in Las Vegas, NV for $63 million. The property is fully leased, and is anchored by a high-volume Smith’s Grocery (Kroger subsidiary) and TJ Maxx, with the balance made up of national and regional necessity-based restaurants, banks and personal service tenants.

JLL Income Property Trust’s Allan Swaringen says, “Montecito Marketplace is an excellent fit within JLL Income Property Trust’s retail portfolio, as we increase exposure to high-quality, grocery-anchored centers in strong metropolitan markets.”

Montecito Marketplace is strategically located just off the I-95/I-215 interchange in North Las Vegas, and is part of the larger 330-acre Montecito Town Center mixed-use development. The submarket exhibits a unique suburban environment, due to the local employment base operating with a 24/7 three shift schedule.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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JLL Income Property Trust Acquires Vegas Retail Center for $63M

Inside The Story

About Dennis Kaiser

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Property Sectors

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National CRE News In Your Inbox.

JLL Income Property Trust Acquires Vegas Retail Center for $63M

Inside The Story

About Dennis Kaiser