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News release

CHICAGO, IL

JLL Completes Sale of 2.5 Million Square-Foot Industrial Portfolio


CHICAGO, June 30, 2014 – On behalf of its client, Mesa Real Estate Partners LP, a private equity real estate fund based in Houston, JLL has brokered the sale of a 2.4-million-square-foot portfolio of 75 fully leased single-tenant industrial properties to an investment group led by New York-based American Realty Capital Properties. The sale price was $295 million.

The portfolio is focused on several core energy markets with the properties leased exclusively to energy companies. More than 80 percent of the buildings are located in Texas — including 24 in the Dallas/Ft. Worth metroplex and eight in the Greater Houston area. The others are in Oklahoma, Louisiana, Arkansas, New Mexico, North Dakota’s Bakken region, western Pennsylvania and eastern Ohio.

More than 70 percent of the properties have remaining lease terms of 10 years or longer and all are considered “mission-critical” to their tenants’ operations and revenue streams.

“We assembled these properties over a two-and-a-half year period through build-to-suit development and sale-leaseback transactions with strong energy service companies,” Mesa’s Co-Managing Partner and President, Tim Horan, said.  “The resulting portfolio is believed to be the largest of its kind in the country.” 

JLL International Director John Huguenard, SIOR, CCIM, and Senior Vice President Sean Devaney completed the transaction on behalf of Mesa.

About Capital Markets
JLL 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 2013 alone, JLL Capital Markets completed $99 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,300 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: http://bit.ly/18P2tkv.

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. JLL is the brand name of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.