JLL Income Property Trust Acquires Montecito Marketplace in Las Vegas for $63M

LAS VEGAS — JLL Income Property Trust has acquired Montecito Marketplace, a 190,000-square-foot shopping center located in Las Vegas, for $63 million.

Smith’s Grocery and TJ Maxx anchor the fully leased property, which is home to national and regional retailers, restaurants, banks and personal service tenants. The seller in the transaction was undisclosed. Jones Lang LaSalle Income Property Trust Inc. is a REIT that owns and operates a portfolio of high quality office, retail, industrial and apartment properties across the U.S.