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News release

CHICAGO, IL

Jones Lang LaSalle Markets 40-Property Net Lease Portfolio for Sale


CHICAGO, July 18, 2012 — Jones Lang LaSalle’s (NYSE: JLL) Capital Markets experts today announced the firm is bringing to market a portfolio of 40 primarily single-tenant, net lease properties, which have a combined in place NOI of approximately $47 million. The Net Lease Strategic Assets Fund was assembled in 2007 and 2008 by a joint venture between affiliates of Inland American Real Estate and Lexington Realty Trust and is comprised of industrial, office, retail, golf course and medical office properties and located throughout 23 states, with the majority concentrated in the Southwest, Southeast and Midwest regions.

Managing Directors Guy Ponticiello, John Huguenard, Rob Bickel and Mike Hochanadel are leading the Jones Lang LaSalle team on this offering.

“The portfolio provides an investor with the opportunity to acquire in a single transaction, a large portfolio of high quality assets that would require many years to assemble if purchased or developed individually. A national investment opportunity of this caliber rarely occurs and the owners are willing to explore partial or full portfolio sale structures,” said Ponticiello.  “These primarily absolute net lease credit tenants provide investors with stable, long-term cash-flowing assets.”

The 5.6-million-square-foot portfolio is currently approximately 98 percent occupied, backed by 34 unique tenants.  Nearly 70 percent of the in place NOI is secured by investment-grade tenants and tenant sponsors, with an average remaining lease term of approximately five years.  The portfolio encompasses a variety of properties types including:

  • Nineteen office properties comprised of approximately 1.95 million square feet representing approximately 35 percent of the total portfolio square footage and approximately 54 percent of the generated NOI
  • Eighteen industrial properties comprised of approximately 3.5 million square feet representing approximately 63 percent of the total portfolio square footage and approximately  42 percent of the generated NOI
  • Three other properties (retail, golf course and medical office) comprised of 132,000 square feet representing approximately two percent of the total portfolio square footage and approximately four percent of the generated NOI
The portfolio provides broad exposure to all regions across the U.S., in such notable markets as Atlanta, Boston, Dallas, Houston, Jacksonville, Minneapolis, Nashville, Oklahoma City, Phoenix and Tampa.   A majority of the assets are mission-critical office and industrial facilities located in markets with positively trending real estate fundamentals.

Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2011 alone, Jones Lang LaSalle Capital Markets completed $60 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $52 billion in global investment sales and buy-side transactions, equating to nearly $216 million of investment trades completed every working day around the globe. In the United States, Jones Lang LaSalle grew its total Capital Markets volumes by 122 percent in 2011 and is quickly gaining market share across all property types. The firm’s Capital Markets team comprises more than 1,200 specialists, operating all over the globe.

For more news, videos and research resources on Jones Lang LaSalle, please visit the firm’s U.S. media center Web page.  Bookmark it here:  http://www.us.am.joneslanglasalle.com/UnitedStates/EN-US/Pages/News.aspx

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.2 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.