Petz, Hughes, Brown and Luce of JLL complete $4.6 million sale for GE Capital Real Estate

JLL's Capital Markets has closed the sale of 11 Campanelli Dr., a 66,000 s/f prime institutional quality warehouse building adjacent to Rte. 24, on behalf of GE Capital Real Estate. W.P. Carey Inc. purchased the asset for $4.6 million. Managing directors Frank Petz and Jessica Hughes, senior vice president Heather Brown led the JLL team on the transaction along with analyst Chares Luce. The single-story facility is fully leased to Allied Waste Services of Mass. In addition to its own rail line spur operated by Mass Coastal off of the CSX rail line, the asset features two loading docks, three drive-in doors, four rail doors, and 30' clear ceiling heights. Allied is planning to expand and redevelop the site for use as a Materials Recycling Facility. 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 a sale, financing, repositioning, advisory or recapitalization execution. In 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 1,700 specialists, operating all over the globe. 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. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion s/f, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $56 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Inc.