JLL Income Property Trust Acquires Northeast Atlanta Distribution Center

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CHICAGO , April 27, 2022 /PRNewswire/ — JLL Income Property Trust, an institutionally managed daily REIT (NASDAQ: TAXIP; ZIPTMX; ZIPIAX; ZIPIMX) with $6.3 billion of portfolio assets, today announced the acquisition of the Northeast Atlanta Distribution Center, a 458,000 square foot Class A industrial building strategically located in the Northeast Atlanta industrial sub-market, one of Atlanta Metro’s main sub-markets for industrial properties. The recently built, long-term leased single-tenant warehouse was acquired for approx. $54 million.

“The Northeast Atlanta distribution center fits perfectly into our geographically diverse industrial portfolio, given its location near irreplaceable transportation infrastructure, Class A construction, and the positive momentum of from Atlanta industrial market,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “The Northeast Atlanta industrial submarket has seen exceptional rental growth, paving the way for all from Atlanta submarkets. Atlanta overall has proven to be a strong industrial market and is ranked fifth nationally by LaSalle Research & Strategy due in part to its business-friendly tax structure, easy access to major thoroughfares, and wide job basis. Industrial properties continue to be a target overweight for our portfolio given continued strong tenant demand and a positive long-term outlook for the sector which we believe will generate stable returns for our shareholders. »

Atlanta is the fourth largest warehouse market in the United States with nearly 800 million square feet of industrial space. With a well-developed transportation network including interstate highways, the nation’s busiest airport, and rail infrastructure including direct connections to the port of SavannahAmerica’s fourth-largest container port for export, Atlanta is the main distribution center for the Southeastern United States. It is also within a two-day drive of almost 80% of the US population.

The Northeast Atlanta distribution center is strategically located in the Northeast Atlanta submarket, from Atlanta largest and includes the most diverse tenant base in the metro area, attracting both large retail tenants and small to mid-sized tenants across a wide range of industries. The property’s location also benefits from its proximity to Interstate 85 providing access to Atlantathe Carolinas, Tennessee and Florida. According to LaSalle Research & Strategy’s core industrial target market analysis, the Northeast Atlanta The submarket is one of LaSalle’s “overweight” markets given its above-average overall total return scores combined with lower expected volatility. In 2021, this submarket saw industrial rent growth of 11.3% and rent growth of 39% over the past five years.

This Class A property was acquired off the market and benefits from a 7-year lease with annual rent increases of 3%.

JLL Income Property Trust Global Industrial Allocation Now Complete $1.9 billioni.e. approximately 31% of its $6.3 portfolio, and includes 54 properties across 12 key markets, all ranked high or as target markets by LaSalle’s Research and Strategy group.

JLL Income Property Trust is an institutionally managed daily net asset value REIT that offers investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services companies. world.

For more information about JLL Income Property Trust, please visit our website at www.jllipt.com.

Jones Lang LaSalle Income Property Trust, Inc. is a daily net asset value REIT that owns and manages a diversified portfolio of high-quality, income-generating residential, industrial, commercial, healthcare and office properties located in United States. JLL Income Property Trust plans to further diversify its property portfolio over time, including globally. For more information, visit www.jllipt.com.

About LaSalle Portfolio Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. Globally, LaSalle manages approximately $78 billion of assets in private and public real estate and debt investments in Q4 2021. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and individuals around the world. LaSalle sponsors a full range of investment vehicles, including segregated accounts, open and closed-end funds, public securities, and entity-level investments. For more information, please visit http://www.lasalle.com.

Valuations, forward-looking statements and future results

This press release may contain forward-looking statements regarding JLL Income Property Trust. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management’s intentions, beliefs, expectations, research, market analysis, plans or predictions. Because these statements involve risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by these forward-looking statements. Past performance is not indicative of future results and there can be no assurance that future dividends will be paid.

contacts:

Scott Sutton
LaSalle Portfolio Management
Telephone: +1 224 343 5538
E-mail: [email protected]

Doug Allen
Dukas Linden Public Relations
Telephone: +1 646 722 6530
E-mail: [email protected]

SOURCE JLL Income Property Trust

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