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News release

Phoenix

JLL Completes 248,900 s.f. Lease of Former Crescent Crown Building in Phoenix

Represents office’s first transaction with First Beverage Group and Iron Point Partners


​​​​​​​​PHOENIX, Dec. 30, 2014On behalf of Barley Equities V, LLC (First Beverage Group and Iron Point Partners, LLC0), the Phoenix office of JLL has completed a 248,900-square-foot lease with Young's Market at 402 S. 54th Place in Phoenix.


This is the first deal completed between the Phoenix office of JLL, First Beverage Group and Iron Point Partners. "This was an excellent group to work with and we value the great relationship we have built," said JLL Managing Director Marc Hertzberg, who represented the building owner along with Managing Director Anthony Lydon.

The highly specialized cold-storage facility, which is fully gated and secured, was built in 1999 on 18.4 acres, adjacent to Loop 202 with immediate access to Sky Harbor International Airport. Formerly home to Crescent Crown Distributing, the building features a 44-foot clear height, 26 loading docks with five drive-ins, 2,500-amp heavy power, seven-inch floors, and rail access on Union Pacific Railroad. All features provide valuable amenities to warehouse fulfilment operations.​

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 $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $53.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

In Phoenix, JLL is a market leader employing nearly 500 of the region's most recognized industry experts offering office, industrial and retail brokerage, tenant representation, facility and investment management, capital markets and development services. In 2013, the Phoenix team completed 10.3 million square feet in lease transactions valued at $512 million, directed $72 million in project management and currently leases and/or manages a 22.8 million-square-foot portfolio. For more news, videos and research resources on Jones Lang LaSalle, please visit www.jll.com or www.jll.com/phoenix.​