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News release

Dallas, TX.

Jones Lang LaSalle Markets Class A Suburban Dallas Office Complex for Sale

Legacy Place I & II expected to appeal to pension funds, REITs and foreign investors

DALLAS, May 10, 2011 – Jones Lang LaSalle today announced the firm has been chosen to market the Class A office complex known as Legacy I & II for institutional investors advised by J.P. Morgan Asset Management.  The two-building, 299,005-square-foot property is located within the Legacy Business Park in the Upper Tollway/West Plano submarket in Far North Dallas.

Leading the Jones Lang LaSalle team on this transaction are Managing Directors John Alvarado, Jack Crews and Evan Stone.

“Legacy I & II’s core quality, tenancy, financial profile and stellar location will make it a prime target for pension funds and REITs, as well as the rest of the investment community both in the U.S. and globally,” said Alvarado.  “The complex should also command a ‘scarcity premium’ due to the lack of quality offerings in the market.”

Built in 1998-99, Legacy I & II is located on a 15+-acre site within Legacy Park, just a quarter mile east of the Dallas North Tollway on Tennyson Parkway.  This submarket has been the best performing submarket in the Dallas/Forth Worth metro, garnering more than 30 percent of Class A absorption in the past 10 years.  It is currently 98 percent occupied with no meaningful expirations until 2018.   

Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for our clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2010 alone, Jones Lang LaSalle Capital Markets completed $43 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $33 billion in global investment sales and buy-side transactions, equating to nearly $140 million of investment trades completed every working day around the globe. In the United States, Jones Lang LaSalle grew its office broker volumes by 257 percent in 2010 and is quickly gaining market share across all property types. Jones Lang LaSalle’s Capital Markets team comprises approximately 800 specialists, operating in 185 major markets worldwide.

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,