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JLL Income Property Trust buys Worcester Distribution Center for $90M

ConnectCRE said the 396,000-square-foot Class A warehouse was built in 2022 and is 100% leased on a long-term basis.

Reported · Written up by our desk · Industry

JLL Income Property Trust, or JLL IPT, acquired the Worcester Distribution Center, a Class A industrial building in the Western Boston submarket, for about $90 million, according to ConnectCRE.

The outlet said the property totals approximately 396,000 square feet, was built in 2022, and is 100% leased to a single tenant under a long-term lease. The seller was not disclosed.

ConnectCRE also reported that JLL IPT said the purchase adds to its expanding industrial portfolio.

The outlet further noted JLL IPT attributed industrial demand to rising fuel costs, which it said have widened the gap between transportation costs and rent.

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