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News release

HARTFORD, CT

Jones Lang LaSalle Markets Trio of Hartford Area Single-Tenant Office Properties for Sale

Three Class A office and office/distribution properties featuring long-term leases.


HARTFORD, CT, Nov. 15, 2011 — Jones Lang LaSalle today announced the firm’s Capital Markets experts have been hired to market a trio of single-tenant office and office/distribution properties located in the Hartford, Connecticut, suburb of Windsor.  The three Class A office and office/distribution properties feature predominantly long-term leases and are available for sale as a portfolio, or individually.

Two of the properties are absolute net leased to Valassis Communications, Inc., (S&P: “BB”) a leading media and marketing services company. Both leases feature 11+ years of remaining term and annual rent escalations. Valassis Direct Mail, the company’s largest and most profitable business unit occupies both properties with one serving as a division headquarters and the other serving as a key regional warehouse/distribution facility. The third property is net leased to Capitol Region Education Council, a well-established Hartford area non-profit organization, with 3+ years of lease term remaining.

Guy Ponticiello, Jones Lang LaSalle Managing Director and leader of the firm’s Corporate Finance & Net Lease team, is steering the firm’s effort on this transaction, along with Managing Directors Scott Jamieson and Michael Smith. Joining them will be Jones Lang LaSalle Executive Vice Presidents Shawn McMahon and Chris Ostop.

 “We expect to secure a significant amount of interest from public and private REITs, institutional investors and high net worth individuals — all seeking stable, secure cash flow,” said Ponticiello.  “There is currently a dearth of quality net lease investments for sale around the U.S. and these properties will be in high demand.”

The properties include:
  • A 171,072-square-foot office/distribution facility located at 235 Great Pond Drive.  The two-story, Class A property is absolute net leased by Valassis Communications through 2023.
  • A 97,256-square-foot Class A office building located at 1 Targeting Centre.  The four-story building is absolute net leased by Valassis Communications, Inc. through 2023.
  • A 49,815-square-foot Class A office building located at 10 Targeting Centre.  The three-story property is triple net leased by Capitol Region Education Council through 2015.

Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. Our 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 $47.9 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.