Press Release
JLL Income Property Trust Declares 55th Consecutive Quarterly Dividend
August 13, 2025
Glendale, AZ
Acquired July 2025
Naperville, IL
Acquired April 2025
Richmond, Virginia
Acquired March 2025
Maple Grove, MN
Acquired November 2024
August 7, 2025
JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), today announced the acquisition of Silverstone Marketplace, a newly-constructed grocery-anchored neighborhood shopping center in the affluent Phoenix suburb of Scottsdale, Arizona. Anchored by the flagship location of national healthy grocery store Sprouts Farmers Market, the 78,000 square-foot property is 100 percent leased to a variety of national and regional tenants with a weighted average remaining lease term of 10 years. The purchase price was approximately $47 million.
Phoenix has one of the strongest economies in the nation, ranking sixth out of 147 metros in LaSalle’s US Regional Economic Index report, with a diverse economy and population that is expected to grow at twice the national rate through 2020. The Scottsdale submarket is one of the most affluent areas in the country with median household incomes among the highest in the nation and with home values over double the Phoenix average.
Silverstone Marketplace is prominently located at the southeast corner of Scottsdale Road and Pinnacle Peak Road, two of the main north / south thoroughfares in North Scottsdale. The property is also in close proximity to a number of affluent master-planned communities as well as Scottsdale Airpark, the second-largest employment center in Arizona.
“This acquisition reflects our strategy to increase our portfolio’s allocation to high-quality, grocery-anchored centers in top nationally ranked retail markets. Scottsdale’s high discretionary income coupled with a growing population, and with Sprouts’ flagship store as our anchor, the property successfully caters to the demographic found in North Scottsdale,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “This is our seventh acquisition in the grocery-anchored retail format,” added Swaringen, “all in targeted retail locations rated in the top quartile of LaSalle’s proprietary ranking of more than 40,000 grocery-anchored shopping centers. LaSalle’s ranking grades shopping centers based upon their surrounding population density, household income, and trade area competition. Highly rated centers like Silverstone Marketplace trigger a strong buy signal for us.”
JLL Income Property Trust is a daily valued perpetual life real estate investment trust (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 www.jllipt.com.
You should read the prospectus carefully for a description of the risks associated with an investment in JLL Income Property Trust (JLLIPT). Some of these risks include but are not limited to the following:
This literature contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” “will,” and other similar terms, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks, uncertainties, and contingencies include, but are not limited to, the following: our ability to effectively raise capital in our offering; uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the implementation of our investment strategy; and other risk factors as outlined in our prospectus and periodic reports filed with the Securities and Exchange Commission. Although JLLIPT believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. JLLIPT undertakes no obligation to update any forward-looking statement contained herein to conform the statement to actual results or changes in our expectations.
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