JLL advises Nuveen Real Estate on $445.5M acquisition of 13-property Western U.S. retail portfolio

• JLL Capital Markets advised on the $445.5 million sale of a 13-property, 1.89 million-square-foot open-air retail portfolio spanning California, Colorado and Washington

• JLL represented the buyer Nuveen Real Estate in the acquisition and arranged financing for 11 of the 13 properties through U.S. Bank totaling $239 million

• The acquisition represents one of the largest anchored retail portfolio transactions completed in the Western United States in recent years

ORANGE COUNTY, Calif., Nov. 2, 2026 – JLL Capital Markets announced today the $445.5 million sale of a 13-property, 1.89-million-square-foot open-air retail portfolio. The portfolio comprises primarily grocery-anchored community and neighborhood shopping centers located across California, Colorado and Washington.

JLL advised Nuveen Real Estate on the acquisition of the portfolio and arranged financing for 11 of the 13 properties through U.S. Bank.

The portfolio consists of six properties in California, four in Colorado and three in Washington. Collectively, the assets are 93.5% leased and feature a diverse tenant roster anchored by grocery retailers including Safeway, Walmart Neighborhood Market, Sprouts, FoodMaxx and Grocery Outlet. Additional national retailers include Target, TJ Maxx, Marshalls, Ross and Best Buy.

The portfolio's geographic diversification across three states provides exposure to some of the strongest retail markets in the Western U.S., where limited new supply and population growth continue to support retailer demand alongside infill demographics surrounding each asset.

The JLL Capital Markets Investment Sales and Advisory team advising Nuveen Real Estate was led by Managing Director Daniel Tyner, Senior Managing Directors Geoff Tranchina and Gleb Lvovich, and Managing Director Eric Kathrein. JLL's Debt Advisory team was led by Americas President Kevin MacKenzie, Director Spencer Bergthold and Managing Director John Marshall.

“Investor demand for high-quality, well-located retail remains strong, and this portfolio provides Nuveen with scale and geographic diversification across multiple West Coast markets,” Tyner said. “The combination of well-located infill centers paired with future growth potential at each asset made this portfolio extremely attractive in today’s market.”

“Working alongside Nuveen on this portfolio reflects the strength of our entire West Coast team’s coordination,” Lvovich said. “Our retail pipeline and activity across the region provided real-time pricing data, which allowed us to deliver informed, timely advice across three West Coast markets.”

“This is a great example of our sales and debt teams collaborating to optimize results for an important client. The combination of a strong sponsor, quality of assets, liquidity in the debt markets and demand for retail created numerous options through a curated process,” MacKenzie added.

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom. 

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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

The JLL Capital Markets Investment Sales and Advisory team included Daniel Tyner (CA RE license #01959818), Geoff Tranchina (CA RE license #01435512) and Gleb Lvovich (CA RE license #01496699), and Eric Kathrein (CA RE license #01896107).

JLL's Debt Advisory team included Kevin MacKenzie (CA RE license #01898953), Spencer Bergthold (CA RE license #02086242) and John Marshall (CA RE license #02022107). 

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of approximately 112,000 as of September 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.