JLL Income Property Trust has acquired Louisville Logistics Center, a one-million square foot, newly constructed industrial property in South Louisville, KY. The purchase price was approximately $82 million.
Louisville Logistics Center is leased through 2032 to a global transportation and logistics company. The lease contains 2% annual rent escalations, along with two 10-year renewal options.
Constructed in 2022, the Louisville Logistics Center is a cross dock distribution center featuring 40-foot clear heights. The tenant has invested in equipment and technology specifically customized for their operations in the property.
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This investment brings JLL Income Property Trust's aggregate industrial allocation to nearly $2.2 billion, or 32 percent of the portfolio, across 59 properties in 13 targeted warehouse markets.
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