Brick-and-mortar retail is all about mixed-use centers these days, and one of the world’s top real estate services companies has forged a partnership with a pioneer in that sector.
Poag Shopping Centers—whose founders Dan Poag and Terry McEwen built the first lifestyle center some 40 years ago—has entered into a strategic partnership with JLL to provide development and management services to JLL-managed centers across the United States.
“This strategic partnership allows both companies to bring our expertise to the shopping center of the future – a mixed-use retail destination – offering our clients unmatched expertise to steward their centers forward in the years to come,” said Greg Maloney, president and CEO of JLL’s retail property management.
The Memphis-based company will partner with JLL on its existing pipeline of redevelopment work and intends to grow this platform as more malls and open-air centers strive to adapt. Poag will work with JLL to answer RFPs for large projects that will integrate office, retail, multifamily and hospitality.
“By partnering with JLL, we will now have the ability and resources to re-develop and acquire assets across the country,” said Poag Shopping Centers CEO Josh Poag. “Our long-term experience in lifestyle center management will create the depth and breadth of a platform to consolidate a fragmented industry.”
Poag Properties in the management partnership include The Avenue Viera in Florida; La Centerra at Cinco Ranch in Texas; Roosevelt Collection Shops in Chicago, The Avenue Peachtree City in Georgia, and The Promenade Shops at Orchard Valley in California.