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
Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX) (NASDAQ: ZIPTMX), an institutionally-managed, non-listed, daily valued perpetual life REIT, today announced it acquired Charlotte Distribution Center. The 346,500 square-foot warehouse is 100 percent leased to Michelin North America, Inc. for over 14 years with 2.25 percent annual rent increases. The purchase price was approximately $25.5 million with an estimated capitalization rate based on purchase price of 6 percent.
With a population growth rate of more than 35 percent since 2000, Charlotte supports a thriving business district and is home to more than 270 Fortune 500 Companies representing a diverse group of industries including banking, manufacturing, healthcare and energy. The sixth busiest passenger airport in North America and a recently completed state-of-the-art rail intermodal facility service its 2.3 million residents.
The investment offers Jones Lang LaSalle Income Property Trust stable cash flow and added exposure to the eastern US real estate market, increasing the geographic diversification of the portfolio. “Our strategy remains to further grow and diversify the portfolio in terms of tenant mix, property type and geographic location.” commented Allan Swaringen, President and CEO of Jones Lang LaSalle Income Property Trust. “Charlotte Distribution Center is a very strong addition to the portfolio in terms of all of these diversifiers. With this acquisition, we stand at the half-year mark having already completed five new investments totaling more than $135 million in higher-quality, core properties that enhance the value of our portfolio and bring our total assets to over $900 million”.
Jones Lang LaSalle Income Property Trust is a non-listed, 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 Jones Lang LaSalle 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.
Are you a resident of Ohio or New Jersey?
The material linked is available only to persons outside of Ohio and New Jersey.
This page is only available to persons outside the states of Ohio and New Jersey. Please review the JLL Income Property Trust prospectus for more information.
Click here to view materials available to Ohio and New Jersey residents.