The industrial property is expandable to 1.3 million square feet and has all the attributes of an e-commerce fulfillment center.

ATLANTA—Mason Mill Distribution Center, a newly-constructed 340,000 square-foot class A industrial property in Atlanta's northeast submarket of Buford, GA, has traded hands. JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT, acquired the asset for $31 million.

The industrial property is fully leased to a publicly-traded global pharmaceutical distribution company through 2027. The tenant invested heavily in the property which is a mission critical facility servicing the southeast region.

“The fundamental tailwinds benefitting the industrial real estate sector are numerous, and we expect to continue to capture upside associated with this trend as long as it continues,” says Allan Swaringen, president and CEO of JLL Income Property Trust. “This investment brings our aggregate industrial allocation to nearly $560 million and nearly 6 million square feet, and represents 23% of the value of the overall JLL Income Property Trust portfolio.”