Fort Worth Distribution Center is Fully Leased

JLL Income Property Trust’s recently acquired Fort Worth Distribution Center is now fully leased with the addition of new tenant, iDC Logistics. iDC leased the newly constructed class-A warehouse/distribution center totaling 350,000 square feet located in the North Fort Worth/Alliance submarket, one of the top three warehouse markets within the greater Dallas/Fort Worth metroplex. The lease is for the full building, includes annual rent increases of 3 percent and has a five-year term until 2026.

“When we acquired Fort Worth Distribution Center in late 2020, we were confident that absorption in the Dallas-Fort Worth industrial markets would continue and allow us to execute a ‘lease-to-core’ strategy for this property,” said Allan Swaringen, president and CEO of JLL Income Property Trust.  “Acquiring a vacant warehouse directly from a developer in an off-market transaction is somewhat unique for us, however in this case, owning upwards of 1.4 million square feet in this market, along with the strong leasing activity we are executing across our 9 million-square-foot nationally diversified portfolio, we remain bullish on the warehouse markets overall and look to continue to increase our allocation to this property sector. Now fully leased, this investment is accretive to our current portfolio and may also provide a unique opportunity for growth.”

Fort Worth Distribution Center has 36-foot clear height, newer construction features and excess trailer parking along with accessibility to an essential transportation infrastructure including Interstate 35 and SH-114, the Alliance BNSF and Union Pacific intermodal rail hubs, FedEx Southwest Regional SortHub, and Alliance and DFW airports.

Headquartered in Los Angeles, iDC is an end-to-end logistics company providing comprehensive design, implementation and operational capabilities in freight forwarding, contract logistics, transportation and distribution management.

JLL Income Property Trust is an institutionally managed daily NAV REIT with more than $3.6 billion in portfolio assets and 86 properties.