JLL Income Property Trust Purchases $32M Huntsville, Ala., Retail Center

JLL Income Property Trust, a daily net asset value, perpetual life real estate investment trust managed by LaSalle Investment Management and sponsored by Jones Lang LaSalle (NYSE: JLL), has acquired Westbury Square, a community retail center in an established submarket of Huntsville, Ala., for a purchase price of approximately $32 million.

The center totals approximately 115,000 square feet and is 100% leased to a diverse mix of retail tenants, including two national retailers with a weighted average lease term of six years. Located in the South Huntsville submarket, the property is situated on a main thoroughfare near several neighborhood amenities such as hospitals, parks, and schools which drive traffic to the center, with convenient access by both eastbound and westbound traffic.

“Westbury Square is a strategic addition to our retail portfolio,” said Allan Swaringen, president and chief executive officer of JLL Income Property Trust. “As core real estate investors, we target retail centers with strong demographics, favorable operating fundamentals and credit-worthy tenant lineups. Westbury Square has a strong tenant roster with impressive tenure and is well-positioned in a submarket with limited vacancy, making it an attractive investment for us.”

Huntsville, with continued economic development in the aerospace, defense and advanced manufacturing industries, has become an economic engine for north Alabama and the broader region. The region boasts a combination of affordable living, quality education, and high paying jobs which continues to attract new residents.

Retail real estate has been a mainstay in the JLL Income Property Trust portfolio since its inception in 2012. As of Nov. 30, 2025, retail investments comprised 12% of the total $7 billion portfolio, with $765 million in assets across 15 retail properties.

Last month, AltsWire reported that JLL Income Property Trust announced the acquisition of 3000 University Center Drive. The $21 million acquisition added a medical asset to the REIT’s substantial healthcare portfolio.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, grocery-anchored retail, healthcare, office and debt investments throughout the nation.

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