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7/21/15
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JLL has agreed to acquire Shelter Bay Retail Group, a retail property management firm based in Mill Valley, CA. The addition of Shelter Bay’s 74 urban and suburban, open-air shopping centers is expected to boost JLL’s third-party retail property management portfolio in the United States by 6.5 msf to a total of 83.5 msf.
Shelter Bay’s properties are located in the San Francisco Bay Area, San Jose/South Bay, Central and Southern California and Arizona. The acquisition is expected to close later this month, subject to customary closing conditions.
Shelter Bay’s entire team of 30 experts is expected to join JLL at closing. Stephen Robertson, Chairman of Shelter Bay, joins as Director of Retail Business Development, West Coast. Sondra Van Metre, President and CEO, joins as Director of Retail Property Management, West Coast. Together, they will lead the combined organization’s West Coast retail property management operations. The management teams for the properties will remain intact to ensure a seamless transition when the transaction closes.
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