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News release

ATLANTA, GA

Jones Lang LaSalle Wins another Retail Leasing Assignment in North Carolina


ATLANTA, Nov. 7, 2011 — Jones Lang LaSalle today announced that USA Grande Promenade Management, LLC chose the firm to lease and manage Grande Promenade, a 202,000-square-foot, multi-level, mixed-use property in Charlotte, NC.  The new assignment brings Jones Lang LaSalle’s retail portfolio in North Carolina to nearly 1.4 million square feet of space.

Grande Promenade is located in northeast Charlotte, at the intersection of East WT Harris Boulevard and North Tryon Street.  The center houses major retailers, such as Ashley Furniture, FedEx Kinko’s, Jos. A. Banks, Total Wine and RBC Bank, as well as numerous restaurants, including  IHOP, Buffalo Wild Wings, Qdoba Mexican Grill and Shane’s Rib Shack.  Jones Lang LaSalle’s leasing and management team of Charlie Owens, Tom Fitzgerald and Cosby Harmon are currently marketing approximately 43,000 square feet of available retail and office space.

USA Grande Promenade’s holdings are locally managed by a Durham-based affiliate of Zapolski Real Estate LLC.  “We are pleased to work with the Jones Lang LaSalle team,” said Marc Liles of ZR Strategic Investments, LLC, one of Grande Promenade’s asset managers.  “The firm brings the enthusiasm and expertise commensurate with a project of this caliber.” 

“Jones Lang LaSalle knows mixed-use centers and the unique dynamics that go into leasing and managing these types of assets,” said Mike Longmore, Executive Vice President, Jones Lang LaSalle.  “We will work hard to put our local market knowledge and national relationships to enhance Grand Promenade and the Charlotte community.”

Steve Yenser, Executive Vice President, Director of Open-Air Retail, Jones Lang LaSalle added, “The opportunity to lease and manage a premier asset like Grand Promenade is a reflection of our continued  commitment to bring extensive local market knowledge, resources and superior execution on behalf of our clients in the open air retail space.”

“The growth of our open air portfolio has been significant and now encompasses 109 projects across 25 states,  totaling 19 million square feet. We will continue to expand our market footprint nationally, providing even further opportunity for fiscally responsible owners – like USA Grande Promenade Management, LLC – to look to a proven operator with the ability to create and enhance value within their portfolios,” concluded Yenser.

Jones Lang LaSalle has operated in the Carolinas since 1999, managing local transactions and properties on behalf of clients headquartered across the region from its offices in Charlotte and Raleigh. Its property expertise ranges from corporate headquarters to data centers and from industrial properties to retail and bank branches.  Jones Lang LaSalle leases more than 3.6 million square feet in the Charlotte region and manages 31.3 million square feet of assets across the Carolinas.

As the leading retail service provider, Jones Lang LaSalle Retail manages the largest third-party retail portfolio in the country.  The firm's 98 million-square-foot retail portfolio consists of more than 350 regional malls, strip centers, power centers, lifestyle centers, ground-up development projects, mixed-use centers, transportation terminals and over 18,000 retail ATMs and bank branches across 50 states. Globally, Jones Lang LaSalle (NYSE: JLL) has a retail portfolio of 278 million square feet of property under management and leasing, including more than 21,600 retail locations on four continents. Jones Lang LaSalle is the only global real estate services firm with a team of dedicated, full-time experts who deliver comprehensive and globally integrated services in Energy and Sustainability under one umbrella. The firm offers leading-edge, industry-unique technology, training and tools in energy and sustainability to maximize the benefits for its clients and the greater community.  For more information on Jones Lang LaSalle Retail, visit www.jllretail.com.
 
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 $47.9 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.