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News release

HOUMA, LA

Jones Lang LaSalle Closes Sale of Shopping Center in Southern Louisiana

Local investor purchases center anchored by Old Navy, Michaels and Burke’s Outlet


HOUMA, LA, Sept. 28, 2011 — Jones Lang LaSalle’s Capital Markets experts today announced the firm has closed the sale of Houma Power Center on behalf of Kimco Realty Corporation.  The shopping center, which is anchored by Old Navy, Michaels and Burke’s Outlet, is located in Houma, Louisiana along Highway 3040/Martin Luther King Boulevard approximately 55 miles southwest of New Orleans.  New Orleans-based Property Management Group purchased the 100 percent leased 98,586-square-foot center for $8.5 million.

Leading the Jones Lang LaSalle team on this transaction was Managing Directors Kris Cooper and Margaret Caldwell.

“The property’s prime location in the heart of the Houma retail corridor and its stable income presented a solid investment opportunity,” said Cooper. “This sale shows the continued recovery and improvement of retail capital markets for solid assets even in tertiary locations.”

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 70 countries from more than 1,000 locations worldwide, including 200 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 $45.3 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.