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News release

Phoenix

Investors Pursue Strengthening Southwest Industrial Market

JLL closes $66 million sale of Phoenix Metro Portfolio


​​A large portfolio of industrial space located in one of the country’s fastest growing metro areas is bound to attract significant investor attention: the proof is in the sale of the three-property Phoenix Metro Portfolio. JLL’s Capital Markets experts closed the $66 million sale on behalf of Duke Realty Corporation. Exeter Property Group purchased the assets.

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


“Phoenix’s industrial market is increasingly on investor’s radar due to its connectivity and favorable yields compared to tier one markets,” said Mills. “This portfolio represented an incredible opportunity to acquire a critical mass of institutional-quality warehouse product in a business-friendly market.”

 

The three properties total 937,655 square feet and are leased to six, diverse tenants:

 

·       Riverside Business Center, totaling 603,909 square feet of cross-dock, distribution space

·       Estrella Buckeye, totaling 250,157 square feet of distribution space

·       2021 S 51st Avenue, a truck terminal totaling 83,589 square feet

 

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 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

 

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.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

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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 $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $58.3 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.