JONES LANG LASALLE INCORPORATED

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Jones Lang LaSalle Incorporated : Premiere Dallas-Fort Worth industrial park in sought-after submarket sells

06/29/2022 | 09:59am EDT

DALLAS, June 28, 2022 - JLL Capital Markets announced today that it has closed the sale of DFW Park 161, a fully leased Class A++ industrial park comprising three state-of-the-art buildings totaling 1 million square feet in a last-mile distribution location at Dallas-Fort Worth International Airport within the city of Irving, Texas.

JLL marketed the property on behalf of the sellers, Invesco Real Estate, a global real estate investment manager, and Perot Development Company. BentallGreenOak acquired the asset on behalf of an institutional investor.

DFW Park 161 is one of Dallas-Fort worth's premiere business parks due to its best-in-class construction and distribution location. The fully leased property offers its four diverse tenants highly functional features and amenities, including clear heights ranging from 32 to 36 feet, 227 dock-high doors, eight drive-in doors, low office finish, ESFR fire protection, LED lighting and ample trailer and vehicle parking space.

Spanning more than 91 acres on airport land, the park is located at 3000, 3050 and 3150 State Highway 161 just east of Dallas-Fort Worth International Airport and within the DFW Airport Industrial submarket, one of the most desirable industrial submarkets in the region. DFW Park 161 is along State Highway 161, which is one of the area's main north and south transportation arteries and carries more than 123,000 vehicles per day. In addition to the ability to easily reach the entire DFW metro area quickly, the property has connectivity to the Texas Triangle, the area between DFW, Houston, San Antonio and Austin that houses 2.5 million residents, which is expected to grow to house 78% of the state's population within the next 40 years. With $1.32 trillion in economic output, this area ranks among the world's 15 largest economies.

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Jack Copher.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

Disclaimer

Jones Lang LaSalle Inc. published this content on 28 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 June 2022 13:58:06 UTC.


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Financials (USD)
Sales 2022 10 193 M - -
Net income 2022 891 M - -
Net Debt 2022 1 038 M - -
P/E ratio 2022 10,3x
Yield 2022 -
Capitalization 8 742 M 8 742 M -
EV / Sales 2022 0,96x
EV / Sales 2023 0,94x
Nbr of Employees 98 200
Free-Float 92,0%
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Number of Analysts 8
Last Close Price 182,43 $
Average target price 261,86 $
Spread / Average Target 43,5%
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Christian Ulbrich President, Chief Executive Officer & Director
Karen Brennan Chief Financial & Investment Officer
Siddharth N. Mehta Chairman
Allan Frazier Global Chief Information Officer
Benjamin Breslau Chief Research Officer
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