Jll to manage former Toys ‘R’ Us retail properties
Jll’s retail management portfolio just got a lot bigger.
The firm announced today that it has been tapped by private real estate investment and advisory firm Raider Hill Advisors to manage the Toys “R” Us Propco I Portfolio, which contains former Toys “R” Us and Babies “R” Us retail properties, including building leases, ground leases, and fee simple owned buildings.
Jll will be responsible for the retail management, facility management, tenant coordination, construction, accounting and real estate tax services for the retail properties in the portfolio.
This move adds 13.4 million sq. ft. of retail space at approximately 275 properties across 46 states to JLL’s retail portfolio under management.
“JLL’s depth of experience with portfolio transitions of this scale gives us great confidence in their ability to seamlessly assume the property management responsibilities of Propco I,” said Joseph Tichar, president & COO of Raider Hill Advisors.
Raider Hill Advisors was named exclusive real estate advisor to Propco I in July, where it provided day-to-day operational oversight including leasing, redevelopment, asset management, and disposition activities for the portfolio.
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