PARSIPPANY, NJ — Jones Lang LaSalle was selected by Industrial Income Trust Inc. (IIT) to manage six industrial properties, totaling 729,756 square feet, in Fairfield and Pine Brook, N.J. The firm will provide a full range of property management services at the properties for the national industrial real estate investment trust.
The JLL team handling the new property management assignment will be led by Angela Alfano, vice president, who oversees industrial property management services for the firm throughout New Jersey. The group will work closely with Michael Sargis, regional vice president of asset management, and Kate Kilgore, director of asset management, for IIT.
“JLL has developed a strong relationship with IIT throughout the United States,” said Linda Aronson, managing director and head of property management for JLL’s suburban tri-state markets. “With the addition of the properties in Fairfield and Pine Brook, we manage nearly 1.5 million square feet in industrial real estate for the REIT throughout New Jersey. JLL continues to expand its industrial property management practice and now oversees more than 10 million square feet in industrial real estate in the Garden State.”
The property management assignment includes four industrial facilities in Fairfield and two industrial facilties in Pine Brook. The Fairfield properties are all light manufacturing facilities and include the 89,672-square-foot Building A and the 105,955-square-foot Building B at Fairfield Industrial Park, 180 Passaic Avenue; the 92,285-square-foot 4 Sperry Road; and the 125,692-square-foot 80 Little Falls Road. The Pine Brook properties are also light manufacturing facilities and include the two-building, 182,589-square-foot 10 Bloomfield Avenue; and the 133,563-square-foot 1 Chapin Road.
In addition to new assignments described above, the firm also provides property management services for IIT in New Jersey at the 251,838-square-foot warehouse and distribution facility at 300 International Drive in Mt. Olive; the 230,953-square-foot warehouse and distribution facility at 261 River Road in Clifton; the 151,062-square-foot light manufacturing facility at 100 Burma Road in Jersey City; and the 103,000-square-foot warehouse and distribution facility at 330 South Van Brundt Street in Englewood for IIT.
JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 500 professionals and support staff providing agency leasing, tenant representation, industrial services, strategic consulting, project and development services, property management and investment sales/capital markets services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from three full-service offices in Parsippany, Iselin (Metropark) and Hasbrouck Heights, also acts as local service provider for JLL global and national corporate clients in need of real estate assistance in New Jersey.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.7 billion of real estate assets under management. For further information, visit www.jll.com.