JLL Income Property Trust announced on October 7, 2026, the closing of a $68.5 million mortgage loan secured by Whitestown Distribution Center IV. The property is a Class A distribution center located in the Northwest submarket of Whitestown, Indiana, and totals approximately 1.1 million square feet.
The loan features a seven-year term with an interest rate of 5.54%. The facility is 100% leased to a single tenant and was constructed in 2024 as the tenant's largest North America redistribution center, servicing eight regional centers. The property includes state-of-the-art amenities such as LED lighting, ESFR sprinklers, truck courts ranging from 135 to 185 feet, hydraulic dock levelers, and 40-foot clear heights.
According to the filing, the transaction supports JLL Income Property Trust’s strategy of using fixed-rate leverage on specific properties to enhance point forward returns. The company noted that Indianapolis serves as a major industrial market due to its central U.S. location, extensive transportation systems, and deep labor pool. The region is home to the second largest FedEx hub in the nation, along with major distribution tenants such as Amazon, Home Depot, DHL, and Coca-Cola.
As of September 30, 2026, industrial investments comprise the largest percentage of the company's total portfolio at 40%. The portfolio consists of approximately $6.9 billion in assets, with $2.7 billion allocated across 66 industrial properties.
