JLL Income Property Trust Acquires Phoenix Area Industrial Facility

Company Overview - JLL Income Property Trust is an institutionally managed, daily NAV REIT with approximately $6.5 billion in portfolio equity and debt investments [1] - The company focuses on acquiring high-quality warehouse facilities located in target industrial markets [4] Recent Acquisition - The company announced the acquisition of Glendale Distribution Center, a Class A industrial warehouse facility in Glendale, AZ, for approximately $140 million [1] - The property totals 1 million square feet and is 100% leased to a leading global sportswear manufacturer with a strong credit profile [2] - The lease has a term of over 10 years with annual rent escalations of 3.25% [2] Property Features and Location - Glendale Distribution Center was newly constructed in 2023 and includes state-of-the-art features such as 40' clear heights, expansive truck courts, and LED lighting [2] - The property is located in a special Foreign Trade Zone, enhancing the tenant's ability to manage sales and inventory efficiently [3] - The Phoenix area is recognized as one of the fastest-growing markets in the U.S., making it highly desirable for industrial tenants [3] Market Trends - The industrial sector is a high-conviction area for JLL Income Property Trust, comprising 33% of its total portfolio as of June 30, 2025, with $2 billion in assets across 58 industrial properties [4] - The company has noted strong fundamentals in the industrial sector, generating stable demand, particularly near major distribution hubs [4]