J
.P. Morgan Real Estate Income Trust, Inc. (JPMREIT) has acquired a strategic two-site logistics and storage portfolio in Tampa and Pinellas Park, Florida, totaling 154,490 square feet. The properties are fully leased to PODS, a leading moving and storage company founded in the Tampa area. The $25.8 million purchase price (exclusive of closing costs) provides JPMREIT with access to infill logistics facilities in one of the fastest-growing metropolitan areas in the U.S.

    "This acquisition aligns with our strategy to invest in high-growth regions," said Doug Schwartz, Co-President of JPMREIT. "We continue to see strong demand for high-quality assets in expanding markets, particularly those with significant population growth and limited supply."

    The portfolio's location in densely populated areas with close proximity to major highways positions it well to meet the increasing demands for business and personal storage.

    JPMREIT leverages J.P. Morgan Asset Management's expertise to invest in stabilized, income-producing assets and development positioned to benefit from the changing economy. The company is externally advised and sponsored by J.P. Morgan Investment Management Inc.

    This press release contains forward-looking statements about JPMREIT and the infill industrial sector within the real estate market. These statements are inherently uncertain and may differ materially from actual outcomes or results due to factors described in JPMREIT's annual report and periodic filings with the SEC.

    J.P. Morgan Asset Management is a global leader in investment management, with $3.5 trillion in assets under management as of 9/30/2024. The company offers global investment management in equities, fixed income, real estate, hedge funds, private equity, and liquidity.