Lincoln Property Company’s Logistics Fund II Acquires Canyon Road Commerce Center, Marking Strategic Return to Seattle Industrial Market

SAN FRANCISCO, July 28, 2026 - JLL announced today that Lincoln Property Company's (Lincoln) Logistics Fund II has acquired Canyon Road Commerce Center, a first generation 275,000-square-foot industrial campus in Pierce County, Washington. As part of the acquisition, Lincoln has appointed JLL as the property's exclusive leasing agent, launching a leasing initiative aimed at attracting advanced manufacturing, aerospace, logistics and distribution users across the South Sound.

Canyon Road is the third acquisition for Lincoln Logistics Fund II following its recent cornerstone close. The fund has secured more than $280+ million in capital commitments from two longstanding institutional investors, alongside Stone Point Capital and Lincoln employees.

Located at 5103-5223 136th Street E. in Puyallup, the property was acquired from Trammell Crow Company and an affiliate of CBRE Investment Management. The acquisition marks Lincoln's return to the Greater Seattle industrial market and continues the expansion of its Lincoln Logistics Fund II, which is focused on acquiring high-quality, last-mile and multi-tenant logistics assets across the U.S.

"The Pacific Northwest continues to demonstrate the long-term fundamentals we seek as investors, including sustained population growth, a highly skilled workforce and a diverse industrial economy," said Gary Kobus, Co-Head of Logistics and Senior Managing Director at Lincoln. "Canyon Road is a high-quality asset in a strategic location that provides an excellent opportunity to execute our leasing strategy while creating long-term value for our investors."

Canyon Road consists of two Class A industrial buildings designed to accommodate a broad range of manufacturing, aerospace, logistics and distribution users. Available suites can accommodate tenants from approximately 40,000 square feet, providing flexibility for both regional and national occupiers. Lincoln will focus on leasing the remaining vacancy while capitalizing on continued demand across the Puget Sound industrial market.

The campus features 32-36-foot clear heights, 21 dock-high doors per building, substantial power capacity, LED lighting, fully securable configurations and Employment Corridor (ECOR) zoning, positioning it to support advanced manufacturing as well as traditional warehouse and distribution operations.

"Tenants continue to prioritize efficient, modern industrial facilities that provide flexibility without compromising quality," said Chris Spofford, Executive Managing Director at JLL. "Canyon Road delivers that combination in one of the Puget Sound region's most active industrial submarkets, making it well positioned to attract manufacturers, aerospace suppliers and logistics users alike."

"Seattle remains one of the West Coast's most important industrial markets, supported by strong infrastructure, a deep aerospace ecosystem and long-term population growth," said Patrick Gilligan, Senior Executive Vice President, Pacific Northwest, at Lincoln. "We're excited to expand our presence in the region with an asset that aligns with our long-term investment strategy and offers meaningful value to occupiers."

Leasing for Canyon Road will be led by JLL's Chris Spofford, Executive Managing Director; Bill Honsaker, Senior Managing Director; and Scott Carter and David Cahill, Managing Directors.

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About JLL

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

About Lincoln Property Company

Lincoln Property Company ("Lincoln") is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, multifamily, life science, retail, industrial, data center, production studio, healthcare, government, universities, sports and entertainment and mixed-use properties, throughout the United States, the United Kingdom, and Europe. Lincoln's combined management and leasing portfolio on behalf of institutional clients includes more than 720 million square feet of commercial space. For more information, visit www.lpc.com.