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News release

Detroit, MI.

Chrysler Group Signs 210,000 SF Lease in Auburn Hills, MI

Automotive giant signs long-term lease close to its HQ outside Detroit


DETROIT, May 6, 2011 — Chrysler Group LLC has signed a 210,000-square-foot lease at 1075 West Entrance Drive property close to its Auburn Hills Headquarters. The automotive group will occupy the entire building by July 2011.  Jones Lang LaSalle represented the building’s owner, Piedmont Office Realty Trust, Inc. 

Jones Lang LaSalle’s A.J. Weiner and Mike Carl led the transaction on behalf of the owner, while Brian Piergentilli of UGL Equis represented the tenant.

“The 1075 Entrance property is ideally suited for Chrysler, based upon both the quality and condition of the building, and also due to its proximity to the firm’s headquarters,” said A.J Weiner, Senior Vice President, Jones Lang LaSalle.  

“Completing a new lease of this size provides great optimism on several levels," said Bo Reddic, Executive Vice President of Real Estate Operations for Piedmont.  "Not only does it demonstrate a positive sign of resurgence in the commercial real estate industry, but it also exhibits a signal of economic growth in the Detroit market itself." 

About Piedmont

Piedmont Office Realty Trust, Inc. (NYSE:PDM), is a fully integrated and self-managed real estate investment trust specializing in Class-A office properties, located primarily in the ten largest U.S. office markets.  As of December 31, 2010, Piedmont wholly owned 75 office buildings located in 19 metropolitan areas across the United States and comprised of over 20 million square feet.  At December 31, 2010, Piedmont’s office properties were 89.2 percent leased.  The Company is headquartered in Atlanta, Georgia with regional property management offices in several major US office markets, including Boston, Chicago, New York City, Washington, D.C., and Los Angeles.  Rated as an investment-grade company by Standard & Poor's and Moody's, Piedmont has maintained a low-leverage strategy while acquiring its properties.  For more information, see www.piedmontreit.com.  

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 $43 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com