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News release


JLL brokers $40M sale of Arizona, Colorado industrial portfolio

JLL represented BPP Pacific on sale of 9 buildings across 3 industrial parks

​​PHOENIX, Dec. 26, 2017 - JLL's Capital Markets experts today announced the company completed the sale of the Western U.S. Industrial Multi-Tenant Portfolio. JLL represented the seller, BPP Pacific. Artis REIT purchased the nine-building portfolio for $40 million.

The portfolio totals 379,487 square feet and includes three industrial parks: Rocky Mountain Business Center located in Aurora, Colorado, and Roosevelt Commons and Superstition Springs in Mesa and Tempe, Arizona, respectively.

Managing Directors Mark Detmer, Bo Mills and Vice President Ryan Sitov led the JLL team on the sale with local market support from Executive Vice Presidents Pat Harlan and Steve Sayre in Phoenix, and Managing Director Mitch Zatz and Vice President Carm Hicks in Denver.

"This was an excellent opportunity to purchase institutional quality assets that are well-located throughout the Western United States," said Detmer.

"The sale of this portfolio reinforces the strength of these markets, especially in Denver where high-level investor interest was piqued by exceptional fundamentals and a choice asset," said Hicks. "Our clients had solid buyer choices, which was evident in the amount of tours and requests for market intel."

The portfolio is currently 92 percent leased to 17 different tenants across a diverse range of industries. 

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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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 third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 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​