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News release

CINCINNATI, OH

Jones Lang LaSalle Brings Springdale Beltway Commons to Market in Ohio

Regional Mall offers significant value-add opportunity for investors


CINCINNATI, OH, Nov. 09, 2011 — Jones Lang LaSalle today announced the firm’s Capital Markets experts have been hired to market Springdale Beltway Commons for sale in the Cincinnati submarket of Springdale, Ohio.  The 614,000-square-foot regional mall is anchored by Sears/Garden Ridge and Morris Furniture and is expected to fetch in excess of $30 million.

Leading the Jones Lang LaSalle team are Managing Directors Dave Wojciechowski and Joe Garibaldi and Vice President Jim Galbally.  Senior Vice President Dustin Stolly will provide financing expertise.

“Value-add retail offerings such as Springdale Beltway Commons are highly sought after by national, regional and private investor,” said Wojciechowski.  “A new owner will be able to capitalize on the more than 150,000 square feet of vacant space as well as its prime location in one of the largest regional retail markets in Ohio.”

Springdale Beltway Commons is located at 11755 Commons Drive near Interstates 275 and 75.  The property was built in 1993 and renovated in 2001.  It is currently 75 percent occupied.

Jones Lang LaSalle’s Retail Investment Sales experts have closed more than $270 million in retail transactions in the past three months, including Plaza Frontenac in St. Louis and Prime Outlets Jeffersonville in Ohio, with another $90 million currently in the market. 

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 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 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 $47.9 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.