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News release

Hartford, CT.

Jones Lang LaSalle to sell UnitedHealthcare Center

Tallest building in Connecticut is 98 percent leased to a majority of investment grade tenants


HARTFORD, June 27, 2011 — Jones Lang LaSalle today announced the firm’s Capital Markets group has been hired by the long-term owner to sell the UnitedHealthcare Center in downtown Hartford, Connecticut.  The 884,669-square-foot, 39-story Class A tower, which is is the tallest building in the state of Connecticut and the only office tower in Hartford greater than 30 floors, is 98 percent leased and occupied.

Leading the Jones Lang LaSalle team on this transaction are Managing Directors Michael Smith and Scott Jamieson.  Managing Director Kelly Gaines and Senior Vice President Dustin Stolly will provide financing expertise, while Executive Vice President Chris Ostop will provide local market brokerage expertise.

“The UnitedHealthcare Center’s anchor tenant, the UnitedHealth Group, has a long-term lease at the property, and along with several other investment grade credit tenants such as Morgan Stanley Smith Barney and Willis, lease over 65% of the building,” said Smith.  “That, coupled with its excellent location, high quality construction and consistently high historical occupancy will make this property extremely appealing to investors.”

UnitedHealthcare Center is formerly known as CityPlace I and is located at the corner of Asylum and Trumbull Streets.  Completed in 1983, it was designed by Skidmore, Owings & Merrill, built by Urban Investment and Development and has undergone significant renovations during the past five years.

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.  The firm’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, www.joneslanglasalle.com.