JLL Income Property Trust makes second industrial acquisition in Phoenix market

JLL Income Property Trust has acquired the Southeast Phoenix Distribution Center, a newly constructed, four-building, class A distribution center totaling 474,000 square feet located in the Chandler, Ariz., submarket of Phoenix. The seller was not disclosed, and the purchase price was $91 million.

This investment is the company's second industrial acquisition in the Phoenix market. Southeast Phoenix Distribution Center fits well with JLL Income Property Trust’s thesis of investing in institutional-quality industrial assets located in close proximity to irreplaceable hubs of transportation.

Constructed in 2019, the property has state-of-the-art features that accommodate a wide range of tenants, ranging from 20,000 square feet up to 135,000 square feet, and includes 32-foot clear heights, ESFR sprinkler systems, grade- and dock-high doors, and full concrete truck courts with fencing.

According to LaSalle Research & Strategy’s Core Target Market Ranking,