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CHICAGO, IL–(Marketwired – Dec 29, 2016) – JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX) (NASDAQ: ZIPTMX) (NASDAQ: ZIPIAX) (NASDAQ: ZIPIMX), today announced the acquisition of a third fully leased Class-A, state-of-the-art warehouse at Pinole Point Distribution Center. This 41,000 square foot warehouse brings the combined distribution center square footage to 518,000, all of which are 100 percent leased with a weighted average lease term of approximately seven years.

The San Francisco Bay Area is the second most densely populated major American city with a population exceeding 7 million and representing more than 20 percent of California’s residents. This region is supported by a sophisticated trade infrastructure with three international airports and the nation’s fifth busiest container port. LaSalle’s Research and Strategy Team has identified the San Francisco Bay Area as a target warehouse market with significant supply constraints and strong rent growth potential. This market continues to be a strong draw for tenants seeking to locate distribution and fulfillment centers near large urban populations enabling rapid delivery times.

The newly constructed Pinole Point Distribution Center offers three modern, well-designed warehouses with best-in-class features including generous loading and truck parking strategically located with convenient access to irreplaceable transportation infrastructure including major interstate highways, the Port of Oakland, Oakland International Airport and the entire San Francisco Bay Area.

“We are pleased to complete the acquisition of this three-property portfolio. High quality, state-of-the-art warehouses in select, primary transportation hubs are highly sought after, particularly in this market where modern buildings are in extremely short supply and overall warehouse vacancy rates are at 2 percent,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “This is our 10^th industrial acquisition this year, and the 28^th property investment we’ve made in the industrial sector representing an industrial sector investment of over $525 million.”

JLL Income Property Trust is an institutionally managed, daily NAV REIT that gives investors access to a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.

For more information on JLL Income Property Trust, please visit our website at www.jllipt.com.

About JLL Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX),
Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing office, retail, industrial and apartment properties located primarily in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. For more information, visit www.jllipt.com.

About LaSalle Investment Management
LaSalle Investment Management, Inc., a member of the JLL group and advisor to JLL Income Property Trust, is one of the world’s leading global real estate investment managers with nearly 700 employees in 17 countries worldwide and approximately $60 billion of assets under management of private and public property equity and debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, endowments and private individuals from across the globe. For more information, visit www.lasalle.com.

Forward-Looking Statements
This press release may contain forward-looking statements with respect to JLL Income Property Trust. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management’s intentions, beliefs, expectations, plans or predictions of the future. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements.

Article source: http://www.marketwired.com/press-release/jll-income-property-trust-acquires-third-fully-leased-pinole-point-warehouse-san-francisco-nasdaq-ziptax-2185714.htm

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Article source: http://news.morningstar.com/articlenet/article.aspx?id=786087

While the height of the new Salesforce/Transbay Tower rising at 415 Mission Street has already caught plenty of people by surprise, particularly when unexpectedly seen from afar, keep in mind that the tower’s 150-foot-tall crown, which will represent 14 percent of the 1,070-foot-tall Transbay tower’s total height, has yet to take shape.

San Francisco’s Central SoMa Plan, which could selectively increase building height limits in the neighborhood to allow towers up to 400 feet in height, is slated to be adopted by mid-2017. Planning to up-zone the Market Street Hub for development up to 600 feet in height is underway. And plans to leverage California’s Density Bonus Law to add a few stories are coming into light.

Expect height limits to dominate the discussion of San Francisco development in 2017. And if you thought they already had, you haven’t seen anything yet.

Best wishes for the New Year, we’ll be back on the 3rd.

Article source: http://www.socketsite.com/archives/2016/12/more-height-coming-to-san-francisco-in-the-new-year.html

The smell of rotten eggs has been infecting the senses of folks living in San Francisco and Richmond since Wednesday, but air quality officials do not have a definitive answer as to what’s causing the nauseating aroma.

The Bay Area Air Quality Management District said that crews are focusing on ships, landfills, wastewater treatment plants and two flaring episodes at the Chevron Richmond refinery as potential culprits.

Monitoring devices planted around the Chevron facility revealed that sulfur was released on Tuesday at some point during the initial flaring episode, officials wrote in a news release. Data pertaining to the second flaring episode is still being compiled.

“Actually, it was last night; it was a strong odor similar to eggy, egg-type odor,” Charlie Hermosa, of San Francisco, said. “It was some kind of industrial smell. It definitely didn’t smell good. Perhaps it was sulfur, don’t know for sure.”

For the past two nights, complaints have come, including some near the Fairmont Hotel in San Francisco, where firefighters arrived, determined it was safe, but couldn’t locate the source. PGE also inspected the area and found no leaks.

Officials representing the Bay Area Air Quality Management District, San Francisco and the city’s fire department are working to unearth the source.

“We are looking at two flaring incidents that happened in Richmond,” said Kristine Roselius, of the air quality district. “We are looking at local wastewater facilities, we’re looking at landfills in the area as well as ships. There are number of potential sources.”

Chevron released the following statement in response to the incident.

“The Bay Area Air Quality Management District (BAAQMD) is conducting a thorough investigation on the cause of the recent odors detected in Richmond and San Francisco. Chevron is providing the BAAQMD with information to help them complete their investigation. It is premature to speculate whether our recent flaring incidents are the cause of those odors.