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Tuesday, 23 July 2013

JLL Income Property Pays $38Mln for Atlanta-Area Warehouse

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Jones Lang LaSalle Income Property Trust Inc. has paid $38 million, or about $67.86/sf, for the 560,000-square-foot Suwanee Distribution Center in suburban Atlanta.

The REIT, whose shares do not trade on any exchange, said its purchase price results in a capitalization rate of 5.8 percent.

The recently-constructed property is fully leased to Mitsubishi Electric & Electronics USA through 2023. It is at 1340 Satellite Blvd. NW in Suwanee, Ga., which is northeast of...

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Atlanta
  • States: Georgia
  • Sector: Industrial
  • Subject: Property Acquisitions (ACQ)
  • Company: Julien Studley Inc.
  • Valuation: Between $25 million and $50 million
  • Private: Yes
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Dan Moynihan

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