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JLL Income Property acquires Las Vegas shopping center for $63M

Jones Lang LaSalle Income Property Trust Inc. purchased the 190,000-square-foot Montecito Marketplace shopping center in Las Vegas for approximately $63 million.

The fully let asset is anchored by Smith's Grocery and TJ Maxx and is also occupied by restaurants, banks and personal service tenants. The property scores 93% on LaSalle's Supermarket Trade Area Ranking System.