Key Takeaways
- • JLL Capital Markets announced the $445.5 million sale of a 13-property, 1.89-million-square-foot open-air retail portfolio, with JLL advising the buyer, Nuveen Real Estate.
- • U.S. Bank provided financing for 11 of the 13 properties, with JLL's Debt Advisory team arranging the loans.
- • The portfolio is 93.5% leased and spans six properties in California, four in Colorado and three in Washington.
- • Tenants are anchored by grocers including Safeway, Walmart Neighborhood Market, Sprouts, FoodMaxx and Grocery Outlet, with national retailers such as Target, TJ Maxx, Marshalls, Ross and Best Buy.
- • JLL executives cited strong investor demand for well-located, grocery-anchored retail and limited new supply across Western U.S. markets as drivers of the transaction.
Summary
JLL Capital Markets announced on November 2, 2026 the $445.5 million sale of a 13-property open-air retail portfolio totaling 1.89 million square feet. JLL advised Nuveen Real Estate on the acquisition. The portfolio consists primarily of grocery-anchored community and neighborhood shopping centers located across California, Colorado and Washington, with six assets in California, four in Colorado and three in Washington. Collectively the properties are 93.5% leased.
The tenant roster combines regional and national names. Grocery anchors include Safeway, Walmart Neighborhood Market, Sprouts, FoodMaxx and Grocery Outlet, while additional national retailers include Target, TJ Maxx, Marshalls, Ross and Best Buy. According to the announcement, the geographic spread across three states provides exposure to strong Western U.S. retail markets, where limited new supply and population growth continue to support retailer demand, alongside infill demographics surrounding each asset.
JLL's Debt Advisory team arranged financing for 11 of the 13 properties through U.S. Bank. The sales team was led by Managing Director Daniel Tyner, Senior Managing Directors Geoff Tranchina and Gleb Lvovich, and Managing Director Eric Kathrein. The debt team was led by Americas President Kevin MacKenzie, Director Spencer Bergthold and Managing Director John Marshall.
Tyner said investor demand for high-quality, well-located retail remains strong and that the portfolio gives Nuveen scale and diversification across multiple West Coast markets. Lvovich credited the firm's regional retail pipeline with providing real-time pricing data. MacKenzie cited the strength of the sponsor, asset quality, debt market liquidity and retail demand as factors that created numerous options through a curated process.
The tenant roster combines regional and national names. Grocery anchors include Safeway, Walmart Neighborhood Market, Sprouts, FoodMaxx and Grocery Outlet, while additional national retailers include Target, TJ Maxx, Marshalls, Ross and Best Buy. According to the announcement, the geographic spread across three states provides exposure to strong Western U.S. retail markets, where limited new supply and population growth continue to support retailer demand, alongside infill demographics surrounding each asset.
JLL's Debt Advisory team arranged financing for 11 of the 13 properties through U.S. Bank. The sales team was led by Managing Director Daniel Tyner, Senior Managing Directors Geoff Tranchina and Gleb Lvovich, and Managing Director Eric Kathrein. The debt team was led by Americas President Kevin MacKenzie, Director Spencer Bergthold and Managing Director John Marshall.
Tyner said investor demand for high-quality, well-located retail remains strong and that the portfolio gives Nuveen scale and diversification across multiple West Coast markets. Lvovich credited the firm's regional retail pipeline with providing real-time pricing data. MacKenzie cited the strength of the sponsor, asset quality, debt market liquidity and retail demand as factors that created numerous options through a curated process.
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