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News release

PHOENIX, AZ

Demand Sparks JLL’s $41.7 Million Sale of Zulily Building in Reno


PHOENIX, June 26, 2015 – Denoting a still-growing demand in the West for Class A industrial investments, JLL’s Capital Markets experts today announced the firm has closed the sale of the Zulily building, a 2014-built, 707,010-square-foot Class A warehouse/distribution project located in the Reno suburb of Sparks, Nev.

JLL Managing Directors Mark Detmer and Bo Mills completed the sale on behalf of USAA Real Estate Company. Michael Nevis of NAI Alliance served as the local market expert. CBRE Global Investors purchased the building for $41.75 million, or $59.05 per square foot.

The Zulily building is located at 3200 USA Parkway within the Tahoe Reno Industrial Center (TRIC). The building is currently 100 percent occupied through a long-term, NNN lease to Zulily.

In addition to features such as 36’ clear height, secured truck court and cross-dock loading, the Zulily building is in close proximity to major West Coast ports, offers access to multimodal transportation corridors and provides a favorable local and state tax environment.
“This building’s new construction and its location at such a strategic Western U.S. logistics point created a prime investment combination,” said Detmer. “It’s an institutionally managed asset in a market that over the next 10 years is expected to enjoy both substantial business expansion and job growth.”

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: 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. 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 www.jll.com.

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 visitwww.jll.com or www.jll.com/phoenix.