Press Release
JLL Income Property Trust Declares 55th Consecutive Quarterly Dividend
August 13, 2025
Naperville, IL
Acquired April 2025
Richmond, Virginia
Acquired March 2025
Maple Grove, MN
Acquired November 2024
Sherwood, OR
Acquired February 2024
August 7, 2025
JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), today announced the acquisition of Whitestown Distribution Center, a Class A industrial portfolio located in the heart of Indianapolis’ thriving industrial submarket of Whitestown. The two-building portfolio totals 720,000 square feet, is 100 percent leased and was completed in 2020. The purchase price was $62 million.
Indianapolis’ central location allows distribution to over half the US population within a 16-hour drive via interstate highways I-65 and I-70, reinforcing JLL Income Property Trust’s research-led industrial strategy focused on acquiring properties with primary access to critical hubs of distribution and transportation infrastructure. The Northwest Indianapolis submarket is also well connected to the Indianapolis International Airport and major cities throughout the Midwest.
“The Indianapolis industrial market has the 3rd lowest vacancy rate in the US at approximately 5.1 percent, making it an excellent location for us to increase our allocation to core industrial assets located in close proximity to irreplaceable transportation infrastructure,” said JLL Income Property Trust President and CEO Allan Swaringen. “We continue to seek properties with attractive risk-adjusted returns and strong income yields with downside protection of long-term leases to high-quality tenants in state-of-the-art warehouse properties. Given the strong leasing activity within our existing portfolio, along with our ability to acquire new properties with long-dated leases, we remain bullish on the industrial sector.”
This investment brings JLL Income Property Trust’s aggregate industrial allocation to over $850 million, or 28 percent of the portfolio, across 36 properties in 12 key warehouse markets. The larger of the two buildings within Whitestown Distribution Center is 440,000 square feet and is leased to an investment grade tenant, while the second building totals 280,000 square feet and is leased to a well-established third-party logistics company servicing the healthcare industry. On a combined basis, this investment benefits from a nearly 10-year weighted average lease term.
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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