JLL Income Property Trust has acquired Aurora Distribution Center, a 305,000-square-foot warehouse in the Chicago outer market, for approximately $27.7 million.
The property is 100 percent leased to Fortune 200 manufacturer, PPG Industries, for 12 years with 2 percent annual rent increases.
Allan Swaringen, President and CEO of JLL Income Property Trust, said that acquiring high quality, state-of-the-art distribution centers in select, primary transportation hubs like Chicago is a core component of their industrial investment strategy.
“This is our second industrial acquisition in this market in the past six months, and the eighteenth property investment we’ve made in the industrial sector over the last three years representing an industrial sector investment of over $370 million.” he added.
