JLL Income Property Trust Expands Industrial Portfolio with New Acquisition in Indianapolis

JLL Income Property Trust's New Acquisition

On April 21, 2026, JLL Income Property Trust announced its strategic acquisition of the Whitestown Distribution Center III, located in the northwest submarket of Indianapolis, Indiana. This Class A industrial facility boasts an impressive total of 605,000 square feet and was purchased for approximately $60 million. Notably, the site is fully leased to a single tenant which holds a seven-year lease featuring annual rent escalations of 2.5%.

This contemporary facility was newly developed in 2023 and comes equipped with modern amenities including LED lighting, ESFR sprinklers, expansive truck courts of 140'-200', full dock packages with hydraulic levelers, and a notable 36' clear height. The strategic location of this facility is significant, as Indianapolis is recognized as one of the major industrial markets in the U.S. due to its central geographic position, well-established transportation systems, and robust labor pool.

Furthermore, Indianapolis serves as the home to the nation's second-largest FedEx hub and hosts a myriad of high-credit distribution tenants, which include notable names such as Amazon, Home Depot, DHL, and Coca-Cola. This bolsters its reputation as an optimal region for industrial investments.

Allan Swaringen, the President and CEO of JLL Income Property Trust, expressed enthusiasm regarding this acquisition, stating, "Whitestown III is an attractive addition to our industrial portfolio. This sector has been a performance driver for our core fund, especially as industrial fundamentals have remained stable through the past three years of valuation corrections. Our research forecasts steady rent growth for the warehouse sector over the next two to four years."

Emphasizing the significance of the location, Swaringen stated that the facility's proximity to interstate transportation systems allows it to reach over 80% of the U.S. population within a day. This makes the Indianapolis region a quintessential example of a target market for high-quality industrial properties.

JLL Income Property Trust's commitment to the industrial sector is underscored by this acquisition. As of March 31, 2026, industrial investments constituted the bulk of the total $6.8 billion portfolio, representing 38% with $2.4 billion allocated across 64 industrial properties.

JLL Income Property Trust, a daily NAV REIT, continues to own and manage a diverse array of real estate investments, showcasing its expertise in selecting high-quality properties through an institutional investment management team's insights.

For further details about JLL Income Property Trust and its portfolio, interested parties are invited to visit www.jllipt.com.

Additionally, LaSalle Investment Management, a subsidiary of JLL, emphasizes this acquisition's alignment with its strategy of building a diversified real estate portfolio. LaSalle manages a staggering $86.9 billion worth of global assets in private and public real estate equity and debt investments.

In summary, JLL Income Property Trust's latest acquisition not only augments its industrial portfolio but also reflects a well-planned trajectory aimed at capitalizing on the ongoing growth within the industrial real estate sector. With favorable market conditions and strategic positioning, this move is expected to yield stable returns and further enhance the company's robust investment profile.