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JLL Income Property Trust has sold Pinole Point Distribution Center, a three-building industrial park in Richmond, Calif., for $132.5 million. WPT Capital Advisors acquired the property using an $85 million acquisition loan from PCCP.

Divesting from this Bay Area property is another example of the company’s long-term strategy of recycling capital at opportunistic points across real estate market cycles. The deal netted a 50 percent gain for JLL Income Property Trust, which acquired Pinole Point in 2016.

Located at 6000, 6015 and 6025 Giant Road, the three warehouses total 518,000 square feet. The properties provide tenants access to critical transportation infrastructure, including major interstate highways, the Port of Oakland, Oakland International Airport, and the densely populated San Francisco Bay Area, where modern warehouse facilities have historically been in short supply.