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Assignment represents JLL’s largest industrial property management portfolio win
ATLANTA, March 12, 2015 - IDI Gazeley Brookfield Logistics Properties, a leading global investor and developer of logistics warehouses and distribution parks, has tapped JLL to manage 47 million square feet of industrial real estate located in Atlanta, Southern Florida, Cincinnati, Memphis, Chicago, New Jersey, central Pennsylvania, Southern California and several Texas markets. The commission represents the firm’s largest industrial property management assignment in the United States. “High-touch customer service, consistency and value creation are all values that IDI Gazeley and JLL share, creating an ideal collaboration and setting the stage for efficient management of a significant number of industrial assets,” said Dan Pufunt, President, Property Management at JLL. “We have the right industrial experts on the ground in each of these markets to execute our client’s strategy and to help increase the value of the portfolio.” The assignment totals 47 million square feet across 165 properties with the average property totalling 285,000 square feet. “This transaction positions IDI Gazeley for greater scalability and growth, while benefiting from the expertise and talent offered by JLL,” said Jay Cornforth, Managing Partner, Global Head of Industrial at Brookfield Property Group and CEO of IDI Gazeley North America. “In short, we have re-aligned our organization to better focus on our customer relationships and service by leveraging JLL’s class-leading property management platform.” “Industrial properties are increasingly being targeted by the investment community, including institutional and international buyers, and this has fueled demand for comprehensive knowledge and full-service capabilities for industrial product,” added Brenda Crisp, Senior Vice President and national lead for industrial property management at JLL. The portfolio is leased to a variety of customers including well-known companies in retail, manufacturing, e-commerce, third-party logistics and transportation. For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.
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About JLLJLL (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 $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $53.6 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com. About IDI Gazeley IDI Gazeley (Brookfield Logistics Properties) is one of the world’s leading investors and developers of logistics warehouses and distribution parks with 59 million square feet of premier assets under management and additional prime land sites to develop another 55 million square feet of distribution facilities near major markets and transport routes in North America, Europe and China. As part of Brookfield Property Partners, we belong to one of the world’s largest and most sophisticated owners, operators and investors in real estate. For further information, please visit www.brookfieldlogisticsproperties.com
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