Jones Lang LaSalle named receiver of East Town Mall
Green Bay, Wis. -- Jones Lang LaSalle said Thursday that business at East Town Mall, in Green Bay, Wis., would continue as usual, as the Atlanta-based company takes over as receiver for the mall.
The 198,000-sq.-ft. regional shopping center is located on the east side of Green Bay, Wis., in Brown County. Greg Maloney of Jones Lang LaSalle was appointed receiver and, under his leadership, JLL’s retail leasing and management team assumed immediate oversight of the mall and put its expertise to work to help stabilize the asset.
Built in 1982 and remodeled three times since then, the enclosed East Town Mall is anchored by Hobby Lobby, Petco, Fashion Bug, Christopher & Banks, Bath & Body Works, Office Max and Gnome Games.
“East Town Mall is a mainstay of the Green Bay community and we intend for it to stay that way,” said Maloney. As the receiver, Maloney is responsible for controlling and directing the asset until a resolution between the lender and borrower is achieved.
Jones Lang LaSalle and its executives are court-appointed receivers on more than 30 assets throughout the country.