Company News

JLL Income Property Trust Acquires Third Fully-Leased Pinole Point Warehouse in San Francisco Bay Area

December 29, 2016

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), today announced the acquisition of a third fully leased Class-A, state-of-the-art warehouse at Pinole Point Distribution Center. This 41,000-square-foot warehouse brings the combined distribution center square footage to 518,000, all of which are 100 percent leased with a weighted average lease term of approximately 7 years.

The San Francisco Bay Area is the second most densely populated major American city, with a population exceeding 7 million and representing more than 20 percent of California’s residents. This region is supported by a sophisticated trade infrastructure with three international airports and the nation’s fifth-busiest container port. LaSalle’s Research and Strategy Team has identified the San Francisco Bay Area as a target warehouse market with significant supply constraints and strong rent growth potential. This market continues to be a strong draw for tenants seeking to locate distribution and fulfillment centers near large urban populations enabling rapid delivery times.

The newly constructed Pinole Point Distribution Center offers three modern, well-designed warehouses with best-in-class features including generous loading and truck parking strategically located with convenient access to irreplaceable transportation infrastructure including major interstate highways, the Port of Oakland, Oakland International Airport and the entire San Francisco Bay Area.

“We are pleased to complete the acquisition of this three-property portfolio. High quality, state-of-the-art warehouses in select, primary transportation hubs are highly sought after, particularly in this market where modern buildings are in extremely short supply and overall warehouse vacancy rates are at 2 percent,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “This is our 10th industrial acquisition this year, and the 28th property investment we’ve made in the industrial sector representing an industrial sector investment of over $525 million.”

JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

For more information on JLL Income Property Trust, please visit our website at