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News release


Investors Set Sights on Phoenix Infill Industrial Portfolio

PHOENIX, June 18, 2015 – Vacancy rates among Phoenix’s industrial product continue to fall, and with the ability to offer plenty of day trips to major distribution centers, investors are pursuing the market’s industrial portfolios.

On behalf of White Star, LLC, JLL’s Capital Markets experts today announced the firm has closed the sale of the White Star Portfolio, which consists of nine industrial buildings near Phoenix Sky Harbor International Airport and the city’s interstate highway systems. The Realty Associates Fund X, L.P. purchased the portfolio for $42.2 million.

Managing Directors Mark Detmer and Bo Mills led the JLL team on the transaction.

“There is a limited supply of institutional-quality industrial product, so investors are aggressively chasing properties that provide barriers to entry, flexibility and are located along major transit routes,” said Detmer. “This portfolio features high quality buildings with credit tenants, further driving the properties’ value.”

The White Star Portfolio totals 460,669 square feet of multi-tenant industrial space. The institutionally maintained and managed properties are located near Phoenix Sky Harbor International Airport and the city’s interstate highway systems, specifically at:

• White Star Corporate Center (2110 – 2140, S. 7th Ave., Phoenix)
• Baseline Foothills (4401 – 4409 E. Baseline Rd., Phoenix)
• 3710 E. University Dr., Phoenix
• 2501 W. Phelps Rd., Phoenix

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 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page:

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. A Fortune 500 company 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 $55.3 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

In Phoenix, JLL is a market leader employing over 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 2014, the Phoenix team completed 12.2 million square feet in lease and sale transactions valued at $918 million, directed $75 million in project management and currently manages a 23.1 million-square-foot portfolio. For more news, videos and research resources on Jones Lang LaSalle, please visit or