EXETER ACQUIRES $240 MILLION INDUSTRIAL PORTFOLIO

ILLINOIS, INDIANA AND OHIO — Exeter Property Group has acquired a portfolio of 19 industrial buildings from a partnership between Pinchal & Co. and American National Insurance Co. for $240 million. The portfolio comprises 6 million square feet of space that was 98 percent leased at the time of closing. The portfolio is leased to 27 tenants, a majority of which are publicly traded or credit-rated. The average remaining lease term is 5.8 years. The Jones Lang LaSalle team of John Huguenard, Peter Harwood, Garry Weiss and Sean Devaney represented the seller. Eight of the 19 buildings are located in the Midwest. One property is located in the St. Louis suburb of Granite City, Ill.; five properties are located in Indianapolis; and one property each is located in Whitestown, Ind., and Groveport, Ohio.