Institutional quality, 190,000 square-foot high-volume Smith’s Grocery anchored neighborhood shopping center located on 19 acres in North Las Vegas.
Smith’s is the largest grocer in the Las Vegas market, capturing 24% market share according to Metro Market studies. The property is fully leased, and includes a diverse ‘daily needs’ tenancy featuring Chipotle, Starbucks, Chase, H&R Block, Pizza Hut and FedEx Kinkos.
The property is strategically located just off the I-95/I-215 interchange with visibility to an estimated 52,000 vehicles per day. Part of the larger 330-acre Montecito Town Center, the property also benefits from close proximity to several large employers including military, hospitality and healthcare services. The property offers excellent visibility and access with a 93% STARS score, LaSalle’s Supermarket Trade Area Ranking System (STARS) which analyzes over 40,000 grocery-anchored centers based on spending power and competition in the trade area.
Excellent fit with JLL Income Property Trust’s strategy to increase exposure to high-quality, grocery-anchored centers in retail markets that are strongly ranked by LaSalle research.
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This literature contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” “will,” and other similar terms, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks, uncertainties, and contingencies include, but are not limited to, the following: our ability to effectively raise capital in our offering; uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the implementation of our investment strategy; and other risk factors as outlined in our prospectus and periodic reports filed with the Securities and Exchange Commission. Although JLLIPT believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. JLLIPT undertakes no obligation to update any forward-looking statement contained herein to conform the statement to actual results or changes in our expectations.
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