JLL Income Property Trust has acquired Westbury Square, a community retail center in South Huntsville, for approximately $32 million.
About the Acquisition
Westbury Square totals around 115,000 square feet and is fully leased to a mix of retail tenants, including two national value-driven retailers. The property features a weighted average lease term of six years and sits on a main thoroughfare with strong traffic from nearby hospitals, parks, schools, and other neighborhood amenities. JLL Income Property Trust highlighted the center’s strategic location and high-quality tenants as key factors in the acquisition.
Huntsville’s Growing Market
Huntsville continues to thrive as an economic hub for aerospace, defense, and advanced manufacturing, attracting new residents with a combination of affordable living, quality schools, and well-paying jobs. This growth contributes to strong retail fundamentals, making South Huntsville an appealing market for institutional investors.
JLL Income Property Trust Portfolio
Retail properties make up 12% of JLL Income Property Trust’s $7 billion portfolio, which spans residential, industrial, grocery-anchored retail, healthcare, and office assets across the U.S. Founded in 2012, the Trust focuses on income-producing properties with strong tenant lineups and favorable operating fundamentals. JLL plans to continue diversifying its portfolio both domestically and globally, leveraging its partnership with LaSalle Investment Management, which manages over $88 billion in real estate assets worldwide.
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