Skip Ribbon Commands
Skip to main content

News release

Chicago

Jones Lang LaSalle Brings Heritage Square I & II to Market in Dallas

Office complex offers significant value-add and upside opportunity


DALLAS, MAY 18, 2009 — Jones Lang LaSalle’s capital market experts are marketing for sale Heritage Square I & II, a 359,172-square-foot office complex in Dallas.
Leading the Jones Lang LaSalle team on this assignment are Managing Directors John Alvarado, Jack Crews and Evan Stone.
 
“The Heritage Square office complex offers investors the potential to add significant value through the lease-up of nearly 129,000 square feet of vacant space,” said Mr. Alvarado.  “These two buildings are extremely well located and should appeal to investors seeking significant upside potential.”
 
Heritage Square I is an 11-story building, built in 1978.  It is located at 4835 LBJ Freeway.  Heritage Square II is a 10-story building, built in 1980.  It is located at 5001 LBJ Freeway. 
 
The complex sits in a highly visible location, at the intersection of the LBJ Freeway and the Dallas North Tollway, the most travelled intersection in North Texas.  Significant renovations, totaling nearly $1.8 million, have been made to the properties in the past few years including roofs, cooling towers, lobby renovations, elevator modernization and exterior recaulking.  The property also offers 508 covered parking spaces.
 
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.