PHILADELPHIA, Nov. 1, 2023 - JLL Capital Markets announced today that it has closed the sale of Christina Crossing, a 119,446-square-foot, ShopRite-anchored shopping center in Wilmington, Delaware.
JLL represented the seller, DRA and KPR, and First National Realty Properties acquired the asset.
The JLL Capital Markets Sales Advisory team was led by Senior Managing Directors Christopher Munley, Jim Galbally and Chris Angelone, Managing Director Colin Behr, Directors James Graf and Zach Nitsche and Associate Patrick Higgins, along with Managing Director Blaise Fletcher.
"Christina Crossing represented a scarce opportunity to acquire a best-in-class, grocery-anchored shopping center in the heart of immediate and long-term residential and commercial growth through the Riverfront East master-planned development," said Behr.
"It was a privilege to work with the teams at DRA, KPR and FNRP through the sales process and completion of this transaction. Through a challenging capital markets environment, the respective team members remained consummate professionals and executed flawlessly," said Munley.
"Despite the challenging interest rate environment, grocery-anchored retail continues to be one of the most liquid asset classes within commercial real estate. We expect this trend to continue as investor demand remains strong, and retail fundamentals continue to outperform," said Galbally.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Inc. published this content on 01 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 November 2023 15:45:54 UTC.
