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News release

El Segundo, CA.

Jones Lang LaSalle Completes Sale of 121,586 SF Building in Los Angeles


EL SEGUNDO, CALIF., May 31, 2011 – Jones Lang LaSalle today announced it has completed the sale of a one-story, 121,586-square-foot powered shell data center building located at 444 Nash Street in El Segundo, California to Atlanta-based, T5 Partners for an undisclosed price. The property will be redeveloped to offer 12 to 14 megawatts of wholesale data center space.

Jones Lang LaSalle’s Managing Director Chris Strickfaden represented the seller San Francisco-based, Base Partners, along with Managing Director Steve Solomon and Senior Vice President Curt Holcolmb, in the transaction.  The buyer was represented in-house.

“Jones Lang LaSalle was able to achieve a premium price for Base Partners by showing investors the potential of this property as a premier facility for data center users in Southern California,” said Strickfaden.  

This facility is located in El Segundo, a sub-market of Los Angeles near LAX airport, which is already home to large data centers for Digital Realty Trust and Equinix. El Segundo offers cheaper power rates then downtown Los Angeles, a key consideration for data center operators.  The property has an on-site 20MVA substation and 121,486 square foot shell, which will be further expanded in a second phase of the project to begin immediately. Upon completion the space will be configurable to client requirements, ranging from 2,500 square feet to 72,000 square feet.

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.us.joneslanglasalle.com.