"We have had a dedicated staff assigned to both the Mall at Whitney Field and the Hanover Mall since 2003," JLL Retail President Greg Maloney noted in announcing the designation. "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."

JLL assisted seller Gregory Greenfield & Associates in revitalizing the malls after the Atlanta-based investor bought them separately in 2003. It bought the Hanover asset in Hanover from TA Realty Associates for $67 million and the Leominster entry from Kimco Realty Corp. for $64.5 million.

The dual windfall would suggest a successful turnaround for GG&A, which had to overcome two aging, tired retail plazas and a difficult Massachusetts economy. The Mall at Whitney Field is celebrating its 40th anniversary in the wake of its 2004 makeover. The Hanover Mall dates back to the early 1970s. GG&A incorporated modern child play areas at both properties, with the Hanover plaza offering a sports-themed motif.