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Garrett Plans 1M-SF $200M Development

HEMET, CA-The Garrett Group LLC will develop a $200 million-plus lifestyle center, traditional retail, freestanding big-box retailers, restaurants, office and housing on the site.

By Bob Howard and Ian Ritter | Updated on May 22, 2006

(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.

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