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JLL Income Property Trust Pays $95M for Atlanta Distribution Center
Friendship Distribution Center, a newly constructed, four-building industrial portfolio in Buford, GA totaling nearly 650,000 square feet, has been acquired by JLL Income Property Trust for $95 million.
“Friendship Distribution Center’s location in Atlanta’s Northeast submarket, high quality new construction and proximity to irreplaceable transportation infrastructure makes this an excellent portfolio fit for us as we continue to execute on our strategy of increasing our allocation to core industrial assets,” said Allan Swaringen, JLL Income Property Trust president and CEO.
The properties are 96% leased to five tenants, with a weighted average lease term of approximately six years.
JLL Income Property Trust is an institutionally managed daily NAV REIT with $5.5 billion in portfolio assets. The trust’s aggregate industrial allocation is now over $1.6 billion of industrial holdings in 54 properties across 13 key markets, representing the second largest property type allocation in the portfolio.
- ◦Sale/Acquisition
