SALT LAKE CITY—BIG Shopping Centers USA and original developer Foursquare Properties have entered into a joint venture agreement to invest in the retail portion of Jordan Landing, a 500-acre, master-planned, mixed-use community in southwest suburban Salt Lake City.

In a deal that closed August 27, the Beverly Hills-based equity partner secured a 49% interest in The Plaza at Jordan Landing, the remaining portion of the 1.8 million-square foot Jordan Landing Shopping Center in West Jordan. In November 2012, BIG USA acquired an interest in the southern-most portion of the center. No additional terms were disclosed.

“This acquisition marks the addition of another high-quality property to BIG USA's retail portfolio – our first in Utah and our largest acquisition to date,” explains Stanley McElroy president, BIG Shopping Centers USA. “With our long-term hold strategy, it's imperative that we acquire properties with solid real estate fundamentals that drive return-on-investment levels that support such a strategy. Jordan Landing meets these credentials.”