{"id":508363,"date":"2021-06-30T11:03:16","date_gmt":"2021-06-30T15:03:16","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/jll-income-property-trust-acquires-louisville-airport-distribution-center\/"},"modified":"2021-06-30T11:03:16","modified_gmt":"2021-06-30T15:03:16","slug":"jll-income-property-trust-acquires-louisville-airport-distribution-center","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/jll-income-property-trust-acquires-louisville-airport-distribution-center\/","title":{"rendered":"JLL Income Property Trust Acquires Louisville Airport Distribution Center"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">CHICAGO<\/span>, <span class=\"xn-chron\">June 30, 2021<\/span> \/PRNewswire\/ &#8212; JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3213259-1&amp;h=3021843822&amp;u=http%3A%2F%2Fwww.nasdaq.com%2Fsymbol%2Fziptax&amp;a=ZIPTAX\" rel=\"nofollow noopener\">ZIPTAX<\/a>; <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3213259-1&amp;h=2204263493&amp;u=http%3A%2F%2Fwww.nasdaq.com%2Fsymbol%2Fziptmx&amp;a=ZIPTMX\" rel=\"nofollow noopener\">ZIPTMX<\/a>; <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3213259-1&amp;h=3497543275&amp;u=http%3A%2F%2Fwww.nasdaq.com%2Fsymbol%2Fzipiax&amp;a=ZIPIAX\" rel=\"nofollow noopener\">ZIPIAX<\/a>; <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3213259-1&amp;h=3876032320&amp;u=http%3A%2F%2Fwww.nasdaq.com%2Fsymbol%2Fzipimx&amp;a=ZIPIMX\" rel=\"nofollow noopener\">ZIPIMX<\/a>) with <span class=\"xn-money\">$3.7 billion<\/span> in portfolio assets, today announced the acquisition of Louisville Airport Distribution Center, a nearly 284,000-square-foot, newly constructed Class A industrial property located in the Southside\/Airport industrial submarket, <span class=\"xn-location\">Louisville&#8217;s<\/span> top location for industrial properties. The purchase price was <span class=\"xn-money\">$32.1 million<\/span>. This acquisition is JLL Income Property Trust&#8217;s second in <span class=\"xn-location\">Louisville<\/span> after <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3213259-1&amp;h=1239833769&amp;u=https%3A%2F%2Fjllipt.com%2Fnewsroom%2Fpress-release%2Fjll-income-property-trust-acquires-louisville-distribution-center&amp;a=purchasing+the+Louisville+Distribution+Center\" rel=\"nofollow noopener\">purchasing the Louisville Distribution Center<\/a>\u00a0earlier this year.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/491287\/JLL_Income_Property_Trust_Logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/491287\/JLL_Income_Property_Trust_Logo.jpg\" title=\"JLL Income Property Trust (PRNewsfoto\/JLL Income Property Trust)\" alt=\"JLL Income Property Trust (PRNewsfoto\/JLL Income Property Trust)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>&#8220;The Louisville Airport Distribution Center&#8217;s infill location in the Southside\/Airport industrial submarket, where vacancy is just 1.9 percent, makes this an excellent portfolio fit for us as we continue to increase our allocation to core industrial assets located in close proximity to irreplaceable transportation infrastructure,&#8221; said <span class=\"xn-person\">Allan Swaringen<\/span>, JLL Income Property Trust President and CEO. &#8220;Given this property&#8217;s modern construction, strong tenants and exceptional location, we feel it will provide strong long-term value and cashflow to our diverse portfolio.&#8221; <\/p>\n<p>According to LaSalle Research &amp; Strategy, <span class=\"xn-location\">Louisville<\/span> is an overweight market whose merit is driven by an above average return outlook and strong rent growth expectations. <span class=\"xn-location\">Louisville&#8217;s<\/span> central location at the confluence of major highways allows distribution to over half the U.S. population within a day&#8217;s drive via interstate highways I-24, I-64, I-65, I-71 and I-75, reinforcing JLL Income Property Trust&#8217;s research-led industrial strategy focused on acquiring properties with primary access to critical hubs of distribution and transportation infrastructure. The property is within five miles from major distribution hubs including UPS Worldport (Air Distribution Hub), UPS Centennial Hub (Ground Distribution Hub), and the <span class=\"xn-location\">Louisville<\/span> International Airport, and is just 2.5 miles from GE Appliance Park. <\/p>\n<p>Constructed in 2020, the property is fully leased to Haier US Appliance Solutions (an entity of GE Appliances) and Derby Industries, with a weighted average lease term of 5.1 years. It includes modern features such as a 36-foot clear height, LED lighting and HVAC throughout. This investment adds to JLL Income Property Trust&#8217;s aggregate industrial allocation of over <span class=\"xn-money\">$1 billion<\/span> of industrial holdings in 39 properties across 12 key markets, or approximately 31 percent of its <span class=\"xn-money\">$3.7 billion<\/span> portfolio.<\/p>\n<p>JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world&#8217;s leading real estate services firms.<\/p>\n<p>For more information on JLL Income Property Trust, please visit our website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3213259-1&amp;h=421682504&amp;u=http%3A%2F%2Fwww.jllipt.com%2F&amp;a=www.jllipt.com\" rel=\"nofollow noopener\">www.jllipt.com<\/a>.<\/p>\n<p>\n        <b>About Jones Lang LaSalle Income Property Trust, Inc.<\/b>\u00a0(NASDAQ: <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3213259-1&amp;h=3021843822&amp;u=http%3A%2F%2Fwww.nasdaq.com%2Fsymbol%2Fziptax&amp;a=ZIPTAX\" rel=\"nofollow noopener\">ZIPTAX<\/a>; <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3213259-1&amp;h=2204263493&amp;u=http%3A%2F%2Fwww.nasdaq.com%2Fsymbol%2Fziptmx&amp;a=ZIPTMX\" rel=\"nofollow noopener\">ZIPTMX<\/a>; <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3213259-1&amp;h=3497543275&amp;u=http%3A%2F%2Fwww.nasdaq.com%2Fsymbol%2Fzipiax&amp;a=ZIPIAX\" rel=\"nofollow noopener\">ZIPIAX<\/a>; <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3213259-1&amp;h=3876032320&amp;u=http%3A%2F%2Fwww.nasdaq.com%2Fsymbol%2Fzipimx&amp;a=ZIPIMX\" rel=\"nofollow noopener\">ZIPIMX<\/a>), Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in <span class=\"xn-location\">the United States<\/span>. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. For more information, visit <a href=\"http:\/\/www.jllipt.com\" rel=\"nofollow\">www.jllipt.com<\/a>.<\/p>\n<p>\n        <b>About LaSalle Investment Management<br \/><\/b>LaSalle Investment Management is one of the world&#8217;s leading real estate investment managers. On a global basis, <span class=\"xn-location\">LaSalle<\/span> manages approximately <span class=\"xn-money\">$71 billion<\/span> of assets in private and public real estate property and debt investments as of Q4 2020. <span class=\"xn-location\">LaSalle&#8217;s<\/span> diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. <span class=\"xn-location\">LaSalle<\/span> sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3213259-1&amp;h=522544198&amp;u=http%3A%2F%2Fwww.lasalle.com%2F&amp;a=http%3A%2F%2Fwww.lasalle.com\" rel=\"nofollow noopener\">http:\/\/www.lasalle.com<\/a>.<\/p>\n<p>\n        <b><br \/>\n          <i>Valuations, Forward Looking Statements and Future Results<br \/><\/i><br \/>\n        <\/b><br \/>\n        <i>This press release may contain forward-looking statements with respect to JLL Income Property Trust. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management&#8217;s intentions, beliefs, expectations, research, market analysis, plans or predictions of the future. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. Past performance is not indicative of future results and there can be no assurance that future dividends will be paid.<\/i>\n      <\/p>\n<p>\n        <b>Contacts:<\/b>\n      <\/p>\n<p>\n        <span class=\"xn-person\">Scott Sutton<\/span><br \/>\n        <br \/>LaSalle Investment Management<br \/>Telephone:\u00a0 +1 224 343 5538<br \/>Email:\u00a0 <a target=\"_blank\" href=\"mailto:scott.sutton@lasalle.com\" rel=\"nofollow noopener\">scott.sutton@lasalle.com<\/a><\/p>\n<p>\n        <span class=\"xn-person\">Doug Allen<\/span><br \/>\n        <br \/>Dukas Linden Public Relations<br \/>Telephone: +1 646 722 6530<br \/>Email:\u00a0 <a target=\"_blank\" href=\"mailto:JLLIPT@DLPR.com\" rel=\"nofollow noopener\">JLLIPT@DLPR.com<\/a><\/p>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CL28202&amp;sd=2021-06-30\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/jll-income-property-trust-acquires-louisville-airport-distribution-center-301323171.html\">https:\/\/www.prnewswire.com\/news-releases\/jll-income-property-trust-acquires-louisville-airport-distribution-center-301323171.html<\/a><\/p>\n<p>SOURCE  JLL Income Property Trust<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CL28202&amp;Transmission_Id=202106301100PR_NEWS_USPR_____CL28202&amp;DateId=20210630\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire CHICAGO, June 30, 2021 \/PRNewswire\/ &#8212; JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $3.7 billion in portfolio assets, today announced the acquisition of Louisville Airport Distribution Center, a nearly 284,000-square-foot, newly constructed Class A industrial property located in the Southside\/Airport industrial submarket, Louisville&#8217;s top location for industrial properties. The purchase price was $32.1 million. This acquisition is JLL Income Property Trust&#8217;s second in Louisville after purchasing the Louisville Distribution Center\u00a0earlier this year. &#8220;The Louisville Airport Distribution Center&#8217;s infill location in the Southside\/Airport industrial submarket, where vacancy is just 1.9 percent, makes this an excellent portfolio fit for us as we continue to increase our allocation to core industrial assets &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/jll-income-property-trust-acquires-louisville-airport-distribution-center\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;JLL Income Property Trust Acquires Louisville Airport Distribution Center&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-508363","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>JLL Income Property Trust Acquires Louisville Airport Distribution Center - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/jll-income-property-trust-acquires-louisville-airport-distribution-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JLL Income Property Trust Acquires Louisville Airport Distribution Center - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire CHICAGO, June 30, 2021 \/PRNewswire\/ &#8212; JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $3.7 billion in portfolio assets, today announced the acquisition of Louisville Airport Distribution Center, a nearly 284,000-square-foot, newly constructed Class A industrial property located in the Southside\/Airport industrial submarket, Louisville&#8217;s top location for industrial properties. The purchase price was $32.1 million. This acquisition is JLL Income Property Trust&#8217;s second in Louisville after purchasing the Louisville Distribution Center\u00a0earlier this year. &#8220;The Louisville Airport Distribution Center&#8217;s infill location in the Southside\/Airport industrial submarket, where vacancy is just 1.9 percent, makes this an excellent portfolio fit for us as we continue to increase our allocation to core industrial assets &hellip; Continue reading &quot;JLL Income Property Trust Acquires Louisville Airport Distribution Center&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/jll-income-property-trust-acquires-louisville-airport-distribution-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-30T15:03:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/491287\/JLL_Income_Property_Trust_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/jll-income-property-trust-acquires-louisville-airport-distribution-center\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/jll-income-property-trust-acquires-louisville-airport-distribution-center\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"JLL Income Property Trust Acquires Louisville Airport Distribution Center\",\"datePublished\":\"2021-06-30T15:03:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/jll-income-property-trust-acquires-louisville-airport-distribution-center\\\/\"},\"wordCount\":709,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/jll-income-property-trust-acquires-louisville-airport-distribution-center\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/491287\\\/JLL_Income_Property_Trust_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/jll-income-property-trust-acquires-louisville-airport-distribution-center\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/jll-income-property-trust-acquires-louisville-airport-distribution-center\\\/\",\"name\":\"JLL Income Property Trust Acquires Louisville Airport Distribution Center - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/jll-income-property-trust-acquires-louisville-airport-distribution-center\/","og_locale":"en_US","og_type":"article","og_title":"JLL Income Property Trust Acquires Louisville Airport Distribution Center - Market Newsdesk","og_description":"PR Newswire CHICAGO, June 30, 2021 \/PRNewswire\/ &#8212; JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $3.7 billion in portfolio assets, today announced the acquisition of Louisville Airport Distribution Center, a nearly 284,000-square-foot, newly constructed Class A industrial property located in the Southside\/Airport industrial submarket, Louisville&#8217;s top location for industrial properties. The purchase price was $32.1 million. This acquisition is JLL Income Property Trust&#8217;s second in Louisville after purchasing the Louisville Distribution Center\u00a0earlier this year. &#8220;The Louisville Airport Distribution Center&#8217;s infill location in the Southside\/Airport industrial submarket, where vacancy is just 1.9 percent, makes this an excellent portfolio fit for us as we continue to increase our allocation to core industrial assets &hellip; Continue reading \"JLL Income Property Trust Acquires Louisville Airport Distribution Center\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/jll-income-property-trust-acquires-louisville-airport-distribution-center\/","og_site_name":"Market Newsdesk","article_published_time":"2021-06-30T15:03:16+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/491287\/JLL_Income_Property_Trust_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/jll-income-property-trust-acquires-louisville-airport-distribution-center\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/jll-income-property-trust-acquires-louisville-airport-distribution-center\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"JLL Income Property Trust Acquires Louisville Airport Distribution Center","datePublished":"2021-06-30T15:03:16+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/jll-income-property-trust-acquires-louisville-airport-distribution-center\/"},"wordCount":709,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/jll-income-property-trust-acquires-louisville-airport-distribution-center\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/491287\/JLL_Income_Property_Trust_Logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/jll-income-property-trust-acquires-louisville-airport-distribution-center\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/jll-income-property-trust-acquires-louisville-airport-distribution-center\/","name":"JLL Income Property Trust Acquires Louisville Airport Distribution Center - 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