Class-B and high-C retail properties are transacting for the first time since 2008, say JLL VP Wendy Vandeventer, managing director George Cushing, and analyst Meaghan Gallacher. Case in point—the team just closed the sale of Parliament Square in San Antonio. The 65k SF property was snapped up by LS Capital, a California firm that hopes to buy more retail in the Alamo City. George tells us it’s a great value-add play. (It had been held long-term by a major Texas landlord, which is now increasing the quality of its portfolio by selling nonconforming assets.)
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