New Mall Owner Chooses JLL for Management

BOSTON-The new owner of two suburban malls has retained Jones Lang LaSalle as managing agent. After earlier this month paying $181 million for the centers, Walton Street Capital LLC tabbed JLL for properties encompassing 1.4 million sf, including one of the top retailing destinations in central Massachusetts, the Mall at Whitney Field in Leominster.

“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.