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News release

San Diego, CA

Jones Lang LaSalle Completes Multiple Leases Within Four Months Totaling 88,349 Square Feet at Legacy Wateridge Office Building


SAN DIEGO, July 13, 2011Jones Lang LaSalle represented Legacy Partners in three significant lease deals over the past four months, for a combined total of more than 88,000 square feet and a combined transaction value of more than $10 million. The transactions reduce the available space at Legacy Wateridge to just 15,000 square feet and bring the building to nearly 90 percent occupied.

Chad Urie, Executive Vice President, and Tim Olson, Vice President, of Jones Lang LaSalle represented the landlord, Legacy Partners. The Jones Lang LaSalle team secured the following leases:

  • A 15,097-square-foot, 120-month lease valued at nearly $4 million with a well-established phone company. Herb Hafter and David Potter of CB Richard Ellis represented the tenant.
  • A 61,249-square-foot, 36-month lease renewal valued at more than $4 million with Wells Fargo (two leases). Matthew Miller and Chris Powers of CresaPartners represented the tenant.
  • A 12,003-square-foot, 90-month lease valued at more than $2 million with Salient Federal Solutions, Inc. Zach Millrood of Hughes Marino represented the tenant.

Legacy Wateridge, which consists of a pair of two-story Class A office buildings totaling 126,000 square feet, is located at 10421 & 10431 Wateridge Circle in San Diego’s Sorrento Mesa submarket.

”Leasing activity is increasing for corporate headquarters space,” said Urie. “Legacy Wateridge is one of the most desirable projects that continue to benefit from reinvigorated leasing activity in San Diego.”

Legacy Partners Commercial, Inc. is a privately held real estate company operating throughout the western United States.  Since 1972, Legacy has acquired, developed or managed 108 million square feet of commercial property and currently manages a portfolio valued at $2.4 billion.  With a focus on office, R&D and industrial properties in select, growth-oriented markets, Legacy offers an array of services including investment management, property management, marketing and leasing, asset management, acquisitions and development, disposition services, design services and construction management.  Headquartered in Foster City, California, Legacy has regional offices in San Jose, Los Angeles, Long Beach, Irvine, San Diego, Denver and Seattle.
Jones Lang LaSalle is a leader in the San Diego commercial real estate market. The firm employs approximately 45 of the area’s most recognized industry experts offering services in brokerage, capital markets, facility management and project development services. In 2010, the San Diego team completed more than 1.4 million square feet in lease transactions and directed $34.5 million in project management and currently leases and/or manages more than 5.5 million square feet in the market.

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 1000 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.