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News release

​Phoenix

JLL arranges sale of Phoenix industrial portfolio


​Phoenix, Sept. 7, 2017 – JLL's Capital Markets experts today announced the company arranged the sale of a 266,607-square-foot industrial portfolio on behalf of The Hewson Company. TA Realty purchased the portfolio, located in Scottsdale, Arizona and Tempe, Arizona, for $24.5 million.

Managing Directors Mark Detmer, Bo Mills and Bill Honsaker, Senior Vice President Steve Larsen and Vice President Ryan Sitov led the JLL team on the transaction.

"Both the Tempe and Scottsdale submarkets benefit from low vacancy rates and strong rental rate growth," said Detmer. "The quality of the assets and tenant diversity made this portfolio an exceptional opportunity for investors."

The portfolio is comprised of four industrial/flex assets, located at 9160 S. McKemy St., 9185 and 9245 S. Farmer Ave. in Tempe and 7400 E. Tierra Buena Lane in Scottsdale. The portfolio is over 96 percent leased to 12 tenants across a variety of industries, including IT services, transportation, automotive and home improvement.

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.

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.

About JLL

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 $145 billion. At the end of the second quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of nearly 80,000. As of June 30, 2017, LaSalle Investment Management had $57.6 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.