(For more retail coverage, click GlobeSt.com/RETAIL.)
HEMET, CA-The Garrett Group LLC of Temecula plans to develop a retail project totaling more than one million sf here and has named Jones Lang LaSalle as its consultant for developing and marketing the project. The plans call for a lifestyle center, traditional retail, freestanding big-box retailers, restaurants, office and housing on the 200-acre development site.
The $200-million-plus development is the beginning of a new business direction for Chicago-based Jones Lang LaSalle, which mainly leases and manages projects. In fact, the company hasn't done a ground-up development for six years, Greg Maloney, the CEO of the firm's retail group, told GlobeSt.com/Retail from the floor of the International Council of Shopping Centers' Spring Convention in Las Vegas.
"We would like to do at least two a year starting in 2008," Maloney says. "There's been a lot of interest."
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