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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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“The Weekly”

“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

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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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