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JLL Income nabs 11th grocery-anchored retail property for $42.6M

Jones LangLaSalle Income Property Trust Inc. purchased a newly built shoppingcenter in Beaverton, Ore., for roughly $42.6 million, putting its total retailportfolio investment at more than $630 million.

Anchored by Market of Choice, the 92,000-square-footTimberland Town Center is the 11th grocery-anchored retail property acquired bythe company. It is fully leased for an average remaining term of 14 years to awide range of tenants, including Sprint, H&R Block and Orange TheoryFitness.