Share this article Share this article CHICAGO, Jan. 20, 2021 /PRNewswire/ -- JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with a portfolio valued at more than $3.3 billion, announced today the completion of multiple long-term lease extensions with investment grade tenants in its portfolio of 12 grocery-anchored shopping centers diversified across nine different states. (PRNewsfoto/JLL Income Property Trust) "One of the primary ways that JLL Income Property Trust generates predictable, attractive income for distribution to stockholders is through long-term lease agreements with higher credit tenants. We also continually strive to lengthen the weighted average lease term of the overall portfolio," said Allan Swaringen, President and CEO of JLL Income Property Trust. "Negotiated during the depths of the pandemic, these two lease extensions highlight the relative stability and attractiveness of this high performing subsector of an overall challenged retail property market. It also highlights the underlying value of our investment strategy focused on acquiring high-quality, well-located grocery-anchored centers. Our conviction with this one format of retail properties remains high."