Jones Lang LaSalle Incorporated : Partnership arranged for industrial development near Philadelphia

MORRISTOWN, N.J., Jan. 6, 2021 - JLL Capital Markets announced today that it has arranged a partnership for the acquisition of a 18.31-acre land site and the development of a 225,000-square-foot light/bulk distribution industrial facility at 85 Fairless Dr. in the Bucks County community of Fairless Hills, Pennsylvania.

JLL worked on behalf of J.G. Petrucci Company, Inc. to arrange the partnership with Cabot Properties, Inc.

With a target completion year of 2021, 85 Ben Fairless Dr. will feature 36-foot clear heights, 45 dock positions, 50 trailer spaces and 172 parking stalls. The building will be constructed in Fairless Hills, which is approximately 26 miles northeast of downtown Philadelphia. Situated along the I-95 Corridor, the location provides direct access to Philadelphia and the New Jersey Turnpike providing unparallel access to the region's primary transportation arteries.

The JLL Capital Markets team representing the sponsor was led by Senior Managing Directors Jon Mikula and John Plower.

'We are excited to have been a part of this transaction and to have introduced two exceptional JLL clients in what will be a long-term relationship,' Mikula said.

'Bucks County is a very strong, mature industrial market with high barriers to entry and limited development opportunities,' Plower added. 'This is a tremendous opportunity, and we're excited to follow it through to its conclusion.'

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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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