JLL Capital Markets closed the sale of the 1.02M-SF portfolio to LaSalle Investment Management
News release
11 May 2022
Logistics portfolio in infill Raleigh-Durham and Charlotte sells
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CHARLOTTE, N.C., May 11, 2022 – JLL Capital Markets announced today that it has closed the sale of a fully leased, seven-building logistics portfolio totaling 1.02 million square feet in two of the hottest growth markets in the country, Raleigh-Durham and Charlotte, North Carolina.
JLL marketed the assets on behalf of an undisclosed institutional seller. An institutional account managed by LaSalle Investment Management acquired the properties.
Charlotte continues its meteoric rise, boasting 50.8% population growth since 2000 with 4% projected growth within the next three years, while the Raleigh-Durham area population increased 69% from 2000 to 2020 and was recently projected to be the second fastest-growing large city in the U.S. between 2015 and 2030, according to the United Nations Population Division.
The JLL Capital Markets team that represented the seller was led by Patrick Nally, Pete Pittroff, Dave Andrews, Michael Scarnato, Josh McArdle and Zach Lloyd.
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.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About LaSalle Investment Management
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle Investment Management manages approximately $78 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. LaSalle Investment Management’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.