The latest update is out from Jones Lang LaSalle Income Property Trust Inc Class I-A ( (ZIPIAX) ).
On March 17, 2025, JLL Income Property Trust announced the acquisition of the Richmond Distribution Center, a Class A industrial building in Richmond, VA, for approximately $40.7 million. This acquisition aligns with JLL’s strategy to invest in properties with strategic locations and strong market fundamentals, as Richmond has seen growing tenant demand and low vacancies. The property is fully occupied by two international tenants with long-term leases, and its proximity to major transportation hubs enhances its appeal. This move is part of JLL’s broader strategy to capitalize on market opportunities following recent Fed interest rate cuts, reinforcing its focus on industrial real estate, which comprises a significant portion of its $6.6 billion portfolio.
More about Jones Lang LaSalle Income Property Trust Inc Class I-A
JLL Income Property Trust is an institutionally managed, daily NAV REIT that owns and manages a diversified portfolio of high-quality, income-producing residential, industrial, grocery-anchored retail, healthcare, office, and debt investments throughout the United States. The company is sponsored by LaSalle Investment Management, one of the world’s leading real estate investment managers, and aims to further diversify its portfolio globally.
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