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Sealy and Company adds seven-building Class A industrial park to its portfolio
INDIANAPOLIS, April 4, 2017 – JLL's Capital Markets experts today announced the sale of a seven-building, Class A industrial portfolio, located in the heart of Indianapolis' industrial market. Sealy and Company purchased the North by Northwest Industrial portfolio from Minneapolis-based Biynah Industrial Partners.
International Director John Huguenard, Managing Director Sean Devaney and Senior Vice President Ed Halaburt led the JLL team on the deal.
"This was a unique opportunity for an investor to buy a sizable footprint in Park 100 through a single purchase," said Huguenard. "The properties in this portfolio are, collectively, some of the best industrial properties in the Indianapolis market, and this is a tremendous addition to Sealy and Company's portfolio."
The North by Northwest Portfolio is seven buildings totaling approximately 1.1 million square feet. The buildings are 92 percent leased to 25 companies that represent a variety of business industries. Six of the buildings are multi-tenant properties, and all are in the Park 100 master-planned industrial campus. Together, the assets make up what is known as the North by Northwest Business Park.
Huguenard added, "Investors continue to drive demand for warehouse space in the Indianapolis market. The city is known as the Crossroads of America because of the significant amount of interstate highways. An increase in consumer demand for goods has led to more businesses leasing and purchasing local industrial product for distribution facilities and manufacturing operations through the Indianapolis metro and elsewhere in the state."
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 2016 alone, JLL Capital Markets completed $145 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.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At year-end 2016, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 77,000. As of December 31, 2016, LaSalle Investment Management has $60.1 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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