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News release

SALT LAKE CITY, UT

JLL completes sale of bulk distribution warehouse in Salt Lake City, UT totaling 345,686 s.f.

Deal reflects the extraordinary interest from institutional investors in the Salt Lake industrial market


SALT LAKE CITY, May 5, 2014 – JLL represented Exeter Property Group in the purchase of Pacific Landing III which is a 345,686 square foot bulk distribution warehouse. The building is located at 4475 West 700 South in Salt Lake City, Utah and was built on speculation in 2012. This is a high image building with 34’ clear height and ample trailer storage.

Wick Udy of the JLL Utah team represented Exeter Property Group in this transaction. Udy said “It’s exciting to see the extraordinary amount of interest in the Salt Lake industrial market is receiving from national tenants and institutional investors. They all want to be part of the great state of Utah.”

This interest indicates that Utah is an attractive location for all types of industrial operations, due to low energy and manufacturing costs, young qualified work force, and quality of life. These factors, combined with Utah’s strong economy, are attracting a great deal of new tenants.  Where tenants go, institutional investors follow.

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About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4 billion, JLL has more than 200 corporate offices and operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $48.0 billion of real estate assets under management. For further information, visit www.jll.com. ​