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Regional growth and connectivity drive renewal and expansion
Dallas, December 12, 2017 – JLL announced today the successful negotiation of an industrial lease renewal and expansion for Illes Foods. The seasonings and flavors company has renewed their 73,584 square-foot industrial lease and expanded into the additional 81,912 square feet of Prologis Valwood One located at 2022 McKenzie Drive in Carrollton, Texas.
JLL Managing Director Tom McCarthy, SIOR and Senior Associate Elizabeth Jones negotiated the lease on behalf of the tenant. Mitch Pruitt represented the owner.
"Illes' expansion strengthens their strategic positioning within an area of projected growth for their company while providing great access for their logistics hub," said McCarthy. "North Texas is one of the most active markets in the US, and their firm is situated to better serve the growing population of Far North Dallas and our region."
JLL Research, Dallas continues to see a healthy amount of absorption thanks to steady supply meeting growing demand, keeping the total vacancy around the 7.4% mark through Q3 2017.
Illes Foods will expand into their new space in January.
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 third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of September 30, 2017, LaSalle Investment Management had $59.0 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 ir.jll.com.
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