JLL arranges the sale of logistics facility in Durham, NC

CHARLOTTE, July 24, 2025 – JLL Capital Markets announced today the sale of LifeScience Logistics at Durham 85, a 250,541-square-foot, Class A logistics facility in Durham, North Carolina.

JLL represented the seller, a joint venture between Scannell Properties and Manulife Investment Management, which sold the property to EastGroup Properties.

The state-of-the-art facility, completed in 2024, is 100% leased to LifeScience Logistics, LLC, a leading supply chain service provider in the healthcare and pharmaceutical industries. The rear-load facility features institutional-quality design elements, including 32-foot clear heights, ESFR fire suppression and energy-efficient LED lighting throughout.

Situated at 2360 Ferrell Rd., the property is the first building to deliver at Scannell’s Durham 85 park, which is strategically positioned less than two miles from Interstate 85, providing exceptional access throughout the Raleigh-Durham region and the rapidly growing Southeast corridor. The facility is just 10 miles from Research Triangle Park (RTP), one of the country's most successful research parks and approximately 20 minutes from Raleigh-Durham International Airport.

The JLL Capital Markets team was led by Senior Director Dave Andrews, Senior Managing Director Pete Pittroff, Director Michael Scarnato and Analyst Mike Lewis.

"While the Raleigh-Durham market continues to exhibit exceptional fundamentals, this project is a testament to the quality of Scannell and Manulife IM’s work and partnership," said Andrews. "Credit goes to the EastGroup team as well for being an exceptional buyer."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom. 

Scannell Properties is a privately held real estate development and investment company that focuses on build-to-suit and speculative development of industrial, office, and multifamily facilities throughout the U.S., Canada and Europe. Since its inception in 1990, Scannell Properties has completed 615 development projects totalling 150 million SF. For more information, visit scannellproperties.com.

EastGroup, a member of the S&P Mid-Cap 400 and Russell 2000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in high-growth markets throughout the United States with an emphasis in the states of Texas, Florida, California, Arizona and North Carolina. The Company's goal is to maximize shareholder value by being a leading provider in its markets of functional, flexible and quality business distribution space for location sensitive customers (primarily in the 20,000 to 100,000 square foot range). The Company's strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets. EastGroup's portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently includes approximately 63.7 million square feet. EastGroup Properties, Inc. press releases are available at www.eastgroup.net.