Grocery store chain Albertsons awarded Jones Lang LaSalle with an exclusive marketing agreement to sell a 72-store portfolio totaling 3.2 million square feet. Located in nine southeastern, central and western states, JLL is offering the portfolio as a whole with an expected $240 million price tag, or as three regional sub-portfolios.
Many of the stores in the portfolio formerly housed Albertsons grocery stores and are now leased to tenants including ALDI, Big Lots, Ross Dress for Less, Wal-Mart and Whole Foods Market. JLL says more than 80% of the estimated $18 million NOI is comprised of credit-rated tenants.
Story at CoStar.