JLL negotiates $9.1m sale to Cambridge Inv. by Chase Properties

Jones Lang LaSalle, has negotiated the sale of Beltline Plaza for $9.1 million. The supermarket anchored shopping center was sold to Cambridge Investors by Chase Properties. JLL's managing director and national director of retail sales Jim Koury with associate Nathaniel Heald represented the seller and procured the buyer. The 145,277 s/f property on Rte. 67, is anchored by Piggly Wiggly Supermarket. It is 100% occupied with other national tenants including Office Depot, T.J. Maxx, and Dollar Tree. "Beltline fits into our acquisition strategy of acquiring well located retail real estate in the Southeast United States," said David Rubin of Cambridge Investors. According to Jim Koury: "We were pleased at being able to successfully close this sale in such a challenging environment. This was really the result of a joint effort between all parties." Beltline Plaza underwent significant renovation including a new facade in 2003, and a new roof in 2006. Jones Lang LaSalle Capital Markets is comprised of a range of corporate finance experts and real estate investment capital specialists, working on all property types and in all the major national markets on behalf of corporations, major institutional and local investors and developers. The firm's Capital Markets professionals are highly skilled at pinpointing and tailoring the right capital solutions for each of these client's needs. The Corporate Capital Markets professionals help corporations develop and execute strategies that bridge their occupancy, capital deployment and financial reporting objectives for their facility portfolios. The Jones Lang LaSalle Investment Sales team assists investors in developing and executing asset recapitalization strategies for office, industrial, retail, multifamily, healthcare and seniors housing product. The firm's Real Estate Investment Banking experts raise debt and joint venture equity for investors and developers, and provide secondary loan sale advisory services.