JLL Income Property Trust (NASDAQ:ZIPDBX), an institutionally managed, daily NAV REIT, announced today the acquisition of Whitestown Distribution Center III, a Class A industrial facility in the Northwest submarket of Indianapolis.
The $60 million purchase underscores the trust's ongoing strategy to increase its weighting in high-quality warehouse assets located within primary transportation hubs.
The newly developed property totals approximately 605,000 square feet and is 100% leased to a single tenant.
The deal includes a 7-year remaining lease term with 2.5% annual rent escalations, providing a predictable stream of income growth for the fund.
The facility features modern industrial specifications, including LED lighting, ESFR sprinklers, and expansive truck courts designed for high-volume logistics.
With this acquisition, industrial assets now represent 38% of the Trust’s approximately $6.8 billion portfolio, making it the largest property sector by weighting.
As of March 31, 2026, the Trust’s industrial holdings include 64 properties valued at roughly $2.4 billion.
The Indianapolis region is a key target for the firm due to its status as a major logistics hub, capable of reaching over 80% of the U.S. population within a day's drive.