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News release

Philadelphia

First Available Space at The Atlantic Building in 10 Years Comes as Historic Restoration Reaches Completion

Jones Lang LaSalle Named Leasing Agent As 60,000 SF of Office Space Opens Up at Historic Building Located in Philadelphia’s Avenue of the Arts District


PHILADELPHIA, May 6, 2009 — Jones Lang LaSalle has been selected as exclusive leasing agent for The Atlantic Building, a historic landmark building located in the heart of Philadelphia’s Avenue of the Arts district, as tenants have an opportunity to lease space in the building for the first time since 1999.
 
One of the city’s most prominent and desirable locations, the 323,000-square-foot, 21-story building at 260 Broad Street has been restored to its Art Deco grandeur by Atlantic Investors, LLC. Although the building has been 100 percent occupied throughout the restoration, five floors totaling 80,000 square feet are available. Occupancy in 2010 includes a full-floor, 15,000-square-foot space, and a three-floor, 45,000-square-foot contiguous space featuring 20 perimeter offices and an internal stairway between two of the floors.
 
“This is a rare opportunity for a company or non-profit to occupy a unique space at one of the city’s most prestigious business addresses,” said Tom Kramer, Senior Vice President in Jones Lang LaSalle’s Philadelphia office leading the leasing assignment. “Especially with the renovation newly completed, tenants seeking space in the Avenue of the Arts district will be very interested in The Atlantic Building.”
 
In addition to Mr. Kramer, the Jones Lang LaSalle leasing team includes Senior Vice President David Healy and Managing Director Joshua Sloan.
 
“The owners of The Atlantic Building have demonstrated a strong commitment to maintaining its position as one of Philadelphia’s premier office and retail destinations," said Michael McCurdy, Market Director and head of Jones Lang LaSalle’s Philadelphia office.  “For the right enterprise, this is an unprecedented opportunity.”
 
Adjacent to the Kimmel Center for the Performing Arts and Philadelphia’s historic Academy of Music, The Atlantic Building is home to tenants such as AECOM, Family Planning Council, the Philadelphia Orchestra, Ruth’s Chris Steak House and Ted’s Montana Grill.
 
Jones Lang LaSalle has been a prominent member of Philadelphia’s real estate market since 1997.  With 280 employees, the office currently manages 2 million square feet and leases more than 7 million square feet of prime office space throughout the metro Philadelphia area, including International Plaza, One South Broad Street, 1735 Market Street, 701 Market Street, 1515 Market Street, 1818 Market Street and One South Penn Square.
 
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 2008 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.4 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 Web site, www.joneslanglasalle.com.