Jones Lang LaSalle Income Property Trust Inc. received board approval for a one-time special dividend of 4 cents per share, which will be included in the company's third-quarter payout.

The diversified real estate investment trust said the special dividend enables it to cut certain state income taxes due from the capital gains on the sale of the 111 Sutter St. property earlier in 2019.

Including a regular dividend of 13.5 cents per share, the gross dividend for the third quarter will be 17.5 cents per share, payable on or around Nov. 1 to stockholders of record as of Sept. 27.