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LL's Capital Markets group has arranged the recapitalization of Legacy Place, a dominant open-air lifestyle center in New England. Located in Dedham, Massachusetts, an affluent suburb of Boston, Legacy Place is situated at the intersection of I-95 and Rte-1, offering excellent accessibility and visibility.

    The property boasts a 30-mile trade area and welcomes seven million visitors annually from across New England. Spanning approximately 37 acres, Legacy Place comprises 580,000 square feet of gross leasable area and features a mix of high-end retail, dining, and entertainment options, including Whole Foods Market, Apple, Lululemon, Nike, and L.L. Bean.

    JLL represented the seller, Nuveen Real Estate, in the transaction with Madison International Realty, LLC as the buyer. The deal marks an existing partnership between Madison and WS Development, which has managed Legacy Place since its opening in 2009 and retains a 50% ownership stake.

    "The sale of a significant stake at Legacy Place highlights continued investor interest in top-tier retail assets," said Chris Angelone, Senior Managing Director at JLL. "The property's prime location and strong performance make it an excellent fit for Madison's portfolio."

    JLL's Capital Markets group offers global capital solutions for real estate investors and occupiers, with over 3,000 specialists worldwide and offices in nearly 50 countries.