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News release

New York, NY.

Jones Lang LaSalle Selected by RFR Realty as Co-Leasing Agent of 757 Third Avenue

Firm to lease, market 457,250-SF, 27-floor, Class A office building with 300,000-SF block of space


NEW YORK, June 29, 2011 — Jones Lang LaSalle has been selected by RFR Realty LLC as co-leasing agent for 757 Third Avenue. The company will be responsible for assisting the building owner with leasing and marketing efforts at the 27-floor, 457,250-square-foot, Class A office building.

The distinctive Emory Roth & Sons designed property, located between East 47th and East 48th streets in Midtown Manhattan, has a block of approximately 300,000 square feet available, with full floors ranging from 13,194 square feet to 30,746 square feet. The office property offers tenants a unique branding and building identity, and is located in close proximity to Grand Central Terminal. The building also provides extended HVAC hours Monday through Saturday.

The Jones Lang LaSalle team overseeing the leasing assignment at 757 Third Avenue is led by Mitchell Konsker, vice chairman, and Alexander Chudnoff, executive managing director, along with Jonathan Tootell, vice president, and Matthew Ginberg, associate. The team will work closely with Steve Morrows, executive vice president, and Oliver Katcher, senior vice president, with RFR Realty LLC.

RFR Realty, which successfully redeveloped the world-renowned Seagram Building at 375 Park Avenue and Lever House at 390 Park Avenue, is commencing a redevelopment of 757 Third Avenue with the assistance of the architectural firm of Moed de Armas & Shannon. The redevelopment will include a new lobby, new lobby entrance and entry canopy, upgraded glass retail store fronts, and new turnstile security access controls and visitor management systems. Technical upgrades include a life safety generator and a restored building façade. The seventh floor, ninth floor and 15th floor will offer prospective tenants access to spectacular terraces.

"RFR has launched an extensive re-development program for 757 Third Avenue to completely modernize the building,” said Konsker. “The office property offers high-quality office space with panoramic views of the city and the East River. As leasing activity in Manhattan continues to increase, large blocks of Class A office space will only become more valuable.”

“RFR is committed to redeveloping 757 Third Avenue into the premier corporate asset on the East Side,” said Aby Rosen, principal of RFR Holding LLC.

Jones Lang LaSalle is a leader in the New York tri-state commercial real estate market, with more than 1,700 of the most recognized industry experts offering brokerage, capital markets, facilities management, consulting, and project and development services. In 2010, the New York tri-state team completed approximately 17 million square feet in lease transactions, completed capital markets transactions valued at $861 million, managed projects valued at more than $5.8 billion, and oversaw a property and facilities management portfolio of 83.5 million 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, http://www.joneslanglasalle.com/.