JLL, Poag Partner on Mixed-Use Shopping Centers

JLL has formed a strategic partnership with Poag Shopping Centers, a pioneer of open-air lifestyle centers, to develop mixed-use shopping centers including office, multifamily and hospitality space.

Poag will provide development and redevelopment services for JLL-managed centers across the US, while JLL will provide management and operation services to Poag’s 10 high-end, open-air lifestyle centers.

JLL, the third-largest retail property management company in North America, will partner with Poag on all operations and leasing functions for JLL’s shopping center portfolio, according to JLL’s announcement.

“Poag is the original pioneer of the lifestyle center, which is today’s most popular and durable segment of the retail sector,” said Greg Maloney, president and CEO of JLL’s Retail Property Management, in a statement.

“This strategic partnership allows both companies to bring our expertise to the shopping center of the future—a mixed-use retail destination—offering our clients unmatched expertise to steward their centers forward in the years to come,” Maloney said.

Poag will partner with JLL on its existing pipeline of redevelopment work and will work with JLL on RFPs for large mixed-use projects that integrate office, retail, multifamily and hospitality space, which the partners say is “where the future of retail is headed.”

“By partnering with JLL, we will now have the ability and resources to re-develop and acquire assets across the country,” said Josh Poag, CEO of Poag Shopping Centers, in a statement.

“Our long-term experience in lifestyle center management will create the depth and breadth of a platform to consolidate a fragmented industry,” Poag said. “This strategic partnership intends to grow the management and leasing business significantly [and] will concentrate on creating the mixed-use assets our consumers are demanding.”

Nearly 40 years ago, Poag created what is widely recognized as the first outdoor, anchorless lifestyle shopping center, which included unique specialty stores and restaurants, in Saddle Creek in Germantown, TN, a suburb of Memphis at the western edge of the city’s business district.

Poag has been involved in the development, management or leasing of more than 8M SF of lifestyle shopping centers, including the Town Center Plaza, Aspen Grove and the Promenade Shops at Briargate. The company also worked with Elvis Presley Enterprises to develop the Graceland campus in Memphis.

Properties in the new management partnership include the Deer Park Town Center, The Shops at Highland Village, LaCenterra at Cinco Ranch, The Avenue Viera, Roosevelt Collection Shops, The Avenue Peachtree City, The Avenue West Cobb, The Shops at Perry Crossing, The Promenade Shops at Orchard Valley and The Spectrum-Pearland.