JLL Income Property Trust Acquires $90M Warehouse in Greater Boston
JLL Income Property Trust has acquired the Worcester Distribution Center, a Class A industrial warehouse located in the Western Boston submarket. The property was purchased for approximately $90 million and is fully leased to one tenant under a long-term lease agreement. Built in 2022 with advanced features such as refrigeration units and automation capabilities, it offers strategic access to major transportation corridors like I-90 and I-495. The acquisition aligns with JLL Income Property Trust's strategy of investing in industrial properties near key logistics hubs amid rising fuel costs. The company currently allocates 39% of its $7 billion portfolio—$2.7 billion—to warehouse investments across 66 properties, making this the largest segment within their real estate holdings. JLL Income Property Trust is managed by LaSalle Investment Management and operates as a daily NAV REIT with diverse property types including residential, retail, healthcare, and office spaces.
