JLL Grows Retail Property Management with Three Retail Assets0 Comment
10 MGHerring Group employees join JLL; Gar Herring now Senior Vice President of Retail Development
On behalf of The MGHerring Group, JLL today announced that the firm is adding 10 MGHerring Group employees and three retail assets to its portfolio. The firm will now manage, develop and maintain tenant coordination on Silver City Galleria in Taunton, Massachusetts and Market Street at Heath Brook in Ocala, Florida; and develop and maintain tenant coordination on Golden Triangle Mall in Denton, Texas. The General Managers, Accountants and Operations Managers at the assets will now become part of JLL, along with The MGHerring Group CEO Gar Herring, who joins JLL as Senior Vice President, Retail Development.
“Over the past 35 years The MGHerring Group has developed more than 30 major shopping centers and regional malls. Gar has been in the retail business his whole life, and brings an extensive background in real estate development, acquisition, leasing and financing to JLL,” added Greg Maloney, CEO of Retail, JLL.
In Herring’s new role, he will work closely with John Lambert, Director of Retail Development for JLL to expand the firm’s development and redevelopment services across the United States. He will be responsible for sourcing development opportunities, and growing the business development for the firm’s retail property management platform. As President and CEO of The MGHerring Group, Gar developed numerous ground-up, department store anchored lifestyle centers, power centers, and mixed-use projects, as well as the acquisition and redevelopment of distressed enclosed malls and open-air shopping centers across the country. Prior to his role at The MGHerring Group, Herring has worked for Donahue Schriber, Guaranty Bank, The DeBartolo Corporation and The Staubach Company. He earned his bachelor’s degree in finance from Tulane University and master’s of business administration from The University of Texas at Austin. He is a Past Trustee for the International Council of Shopping Centers (ICSC) and member of the Urban Land Institute (ULI).
“This move to JLL allows me to focus on my passion for the development and redevelopment of retail properties across the country. The MGHerring Group has traditionally performed all third-party services for the projects we own, but now we’ve engaged JLL to use their tremendous people and dynamic resources to achieve greater efficiencies and increase the NOI on our existing projects,” said Herring.
The following properties will now transition to JLL and be overseen by Regional Manager David Renninger and Director of Retail Property Marketing Ashlyn Booth:
- The 1,050,000-square-foot Silver City Galleria in Taunton, Massachusetts. Built in 1992, this property is strategically located between two major MSA markets: Boston, Massachusetts and Providence, Rhode Island at the intersection of Route 24 and Route 140, two of the most heavily traveled highways in Southeastern Massachusetts.
- The 515,000-square-foot Market Street at Heath Brook in Ocala, Florida. Built in 2008, this open air lifestyle center is located just off of Interstate I-75 on SR 200. It is anchored by Dick’s Sporting Goods, Dillard’s, Old Navy, Barnes & Noble, DSW and Ulta.
- The 784,200-square-foot Golden Triangle Mall in Denton, Texas. Built in 1980 and renovated in 2015, this mall is located along the Interstate 35 corridor and easily accessible to eastbound and westbound travelers and serves as the retail anchor of a major regional shopping hub. It is anchored by Dillard’s, Macy’s, JCPenney, H&M, Barnes & Noble, Sears and Ross Dress for Less.