Press Release

Jones Lang LaSalle Income Property Trust Closes First Industrial Distribution Center in Dallas

February 20, 2014 — Chicago

Jones Lang LaSalle Income Property Trust, Inc., an institutionally-managed, non-listed, daily valued perpetual life REIT, today announced it has completed the acquisition of Grand Prairie Distribution Center, a 277,000 square foot distribution warehouse located in southwest suburban Dallas, TX. The newly constructed, state-of-the-art building is 100 percent leased to Fruit of the Earth, a leading manufacturer of aloe-based healthcare products. The lease is for a period of ten years running through January 2024.

Dallas-Fort Worth is the fifth largest warehouse market in the US and is known as the nation’s largest inland port with excellent access to major highways, rail lines and the airport. The property is located five miles south of DFW International Airport in the Great Southwest submarket and is centrally located between Dallas and Fort Worth, making it attractive to local distributors and national companies alike.

“The acquisition of Grand Prairie Distribution Center reflects our strategic approach to grow our industrial allocation through investments in modern, strategically located properties that provide steady income through long-term leases,” commented Allan Swaringen, President and CEO of Jones Lang LaSalle Income Property Trust. “Additionally, the triple-net lease structure of this investment provides us with a pure net rental income stream that increases over time.”


Jones Lang LaSalle Income Property Trust is a non-listed, daily valued perpetual life real estate investment trust (REIT) that provides 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 Jones Lang LaSalle Income Property Trust, please visit our website at www.jllipt.com. 


About JLL Income Property Trust

Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.

About LaSalle Investment Management

LaSalle Investment Management, Inc., a member of the JLL group and advisor to JLL Income Property Trust, is one of the world’s leading real estate investment managers with approximately $71 billion equity and debt investments under management (as of Q4 2020). LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open and closed-end funds, public securities and entity-level investments. LaSalle is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Inc. (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.

Forward Looking Statements

This press release may contain forward-looking statements with respect to JLL Income Property Trust. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management’s intentions, beliefs, expectations, research, market analysis, plans or predictions of the future. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. Past performance is not indicative of future results and there can be no assurance that future dividends will be paid.