JLL Income Property Trust Acquires Huntsville Retail Center
The investment adds a fully leased community shopping center in a growing economic hub to JLL’s $7B portfolio.
January 09, 2026
JLL Income Property Trust Expands Retail Footprint with Alabama Acquisition
JLL Income Property Trust is adding a new asset to its growing portfolio: Westbury Square, a 115,000-square-foot community retail center in South Huntsville, Alabama. The firm acquired the fully leased property for approximately $32 million, reinforcing its ongoing strategy of targeting retail investments in markets with strong fundamentals.
Westbury Square sits on a key corridor in a well-established neighborhood, surrounded by schools, hospitals, and parks that keep foot traffic steady. The center’s tenant base includes two national value-focused retailers, and the average remaining lease term across the property is six years. That tenant mix and long-term stability made it a logical fit for JLL Income Property Trust’s portfolio.
Huntsville continues to see long-term growth, driven by expansion in aerospace, defense, and advanced manufacturing. The region offers a combination of affordability, quality education, and access to high-paying jobs—factors that continue to attract new residents and support demand for retail real estate.
Retail has been part of JLL Income Property Trust’s strategy since it launched in 2012. As of late 2025, the firm held $765 million in retail assets across 15 properties, accounting for 12% of its $7 billion portfolio. Westbury Square brings another stable, income-producing retail center into that mix.
JLL Income Property Trust is managed by LaSalle Investment Management, which oversees $88.5 billion in real estate equity and debt investments globally. The team continues to focus on a mix of residential, industrial, healthcare, grocery-anchored retail, and office properties—with an eye toward future diversification, including internationally.
This latest acquisition reflects the trust’s view that demographic trends and local economic performance matter. Westbury Square checks both boxes, and it’s now part of a portfolio designed to meet long-term objectives across market cycles.
Share
Read More Articles
