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News release

West Palm Beach, FL.

Jones Lang LaSalle to Manage City Place Tower in West Palm Beach, FL

Firm wins 300,000-square-foot property management assignment


WEST PALM BEACH, FL, April. 18, 2011 — Jones Lang LaSalle has won the property management mandate for City Place Tower in downtown West Palm Beach, FL. The 300,000-square-foot trophy office building located at 525 Okeechobee Boulevard, stands at 18 stories and is owned by and is owned by KBS REIT II, a non-traded REIT operated by California-based KBS Capital Advisors, one of the nation’s largest commercial real estate owner/operators.

Jones Lang LaSalle’s team will include Kevin Probel, General Manager, Mike Finn, Chief Engineer, Alec Tierney, Engineer and Trixy Walker, Property Administrator.

“City Place Tower is a prestigious addition to our growing property management portfolio in Florida,” said Steven Froot, Senior Vice President, Jones Lang LaSalle.  “Our firm’s best practices and strong national relationships enable us to provide superior management services that strengthen an owner’s ability to attract and retain tenants.”

City Place Tower is the first Class-A office building to be constructed in West Palm Beach since 1989 and the only building in the city built to post-Hurricane Andrew construction standards. Less than two years after officially opening its doors, the office tower is now more than 90 percent leased.  

Some of the amenities offered by the building include;  spectacular ocean views, full service concierge, redundant power sources capable of powering all electronic systems and direct access to more than 100 shops and restaurants at City Place.

This recent win for Jones Lang LaSalle follows other assignments at some of Florida’s iconic trophy towers including; leasing and management at the 1.225 million square foot Southeast Financial Center, property management for the 47-story Miami Tower in downtown Miami and last year the firm won the exclusive leasing mandates for Bank of America Tower at 50 Laura Street, Jacksonville and the SunTrust Financial Centre in downtown Tampa.

Jones Lang LaSalle has approximately 380 employees providing real estate expertise across all major markets in Florida including agency leasing, property management, project and development services, capital markets and tenant representation.  The firm is responsible for the leasing and management of more than 12 million square feet of commercial space across the state.
 
About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 60 countries from more than 1,000 locations worldwide, including 185 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $41 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.