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JLL Income Property Trust Executes 384K SF in California Leases
Chicago-based JLL Income Property Trust executed 460,000 square feet of new industrial leases across its warehouse portfolio. Among the activity included three deals in California totaling 384,000 square feet of commitments.
JLL Income Property Trust’s Allan Swaringen says, “This robust leasing activity demonstrates the exceptional momentum we continue to see within our geographically diverse, core industrial portfolio, even during this COVID-19 recessionary economic environment.”
The NAV REIT added 114,000 square feet to an existing SoCal tenant’s lease and completed a two-year, 45,000 square foot lease with a health and wellness company at its Valencia Industrial Portfolio. The four-building, 460,000-square-foot portfolio is fully leased to a diverse roster of eight national and local tenants.
JLL Income Property Trust also renewed an existing 225,000-square-foot tenant at the Bay Area’s Pinole Point Distribution Center, a three-building, 518,000-square-foot property.
The industrial portfolio’s occupancy rate stands at 95% with the addition of five new leases across JLL Income Property Trust’s $850-million of industrial holdings in 36 buildings across 12 key markets.
For comments, questions or concerns, please contact Dennis Kaiser
*Pictured Valencia Industrial Portfolio
- ◦Lease
