JLL REIT buys $95M Kentucky distribution center
February 11, 2021 | Real Estate Weekly
JLL Income Property Trust, an institutionally managed daily NAV REIT, announced the acquisition of Louisville Distribution Center, a one million-square-foot, Class A industrial property located in South Louisville, Kentucky. The purchase price was $95 million.
“The Louisville industrial market’s low vacancy rate of just 4.2 percent and central location makes it an excellent market for us to continue to increase our allocation to core industrial assets located in close proximity to irreplaceable transportation infrastructure,” said Allan Swaringen, JLL Income Property Trust President and CEO.
“The property’s modern layout is bolstered by significant building improvements invested by the tenant, which, coupled with the 10-year lease to an investment-grade credit, Fortune 100 company is expected to provide predictability of cashflow for years to come.”
