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News release

HOUSTON, TX

Jones Lang LaSalle Closes Sale of Montrose Office Property in Houston

Class A boutique office buildings in historic Museum District attract buyer


HOUSTON, Feb 07, 2012 — On behalf of Hansen Partners, Jones Lang LaSalle today announced the firm’s Capital Markets experts have closed the sale of two Class A boutique office buildings and a historic red brick home converted to office space in the heart of Houston’s Museum District to two subsidiaries of Equitas Commercial Real Estate Holdings, LLC. The buildings, located at 4119 Montrose and 4203 Montrose, include a total of 83,764 square feet.

Managing Director Rudy Hubbard and Vice President Leah Gallagher led the Jones Lang LaSalle Capital Markets team on this transaction.

“This property’s location, in close proximity to the city’s densely populated residential area in the high-profile Museum District, was a major attraction,” said Hubbard. “The buildings are 100 percent leased and have been for more than four years.”

All three buildings are served by a three-level detached parking garage and are in excellent condition with no deferred maintenance items. The property known as 4119 Montrose is five stories with 26,929 square feet and was completed in 2003; 4203 Montrose is six stories with 52,515 square feet and was completed in 2007. The two story red brick building adjacent to 4203 Montrose was built in 1920 as a residence and subsequently converted to a commercial space of 4,320 square feet.

Hansen Partners, which has been retained to continue management and leasing of the buildings, created this niche development to cater to boutique companies in search of reduced space with a Class A presence in a uniquely desirable location. The buildings sit on 1.4 acres of land bounded by residential neighborhoods to the north and east, commercial and multi-family to the south, and retail/library to the west. The property is situated near the Montrose/Richmond stop of the planned University line of the city’s METRO light rail system, which will connect to the Main Street line, the Southeast line and the proposed Uptown line.

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. For more news, videos and research resources on Jones Lang LaSalle, please visit our U.S. media center Web page. Bookmark it here:  http://www.us.am.joneslanglasalle.com/UnitedStates/EN-US/Pages/News.aspx

About Hansen Partners
Hansen Partners is a commercial real estate development & management service firm specializing in commercial office buildings designed for tenants with smaller square footage requirements. Founded in 1971 by John Hansen, the firm has built more than two million square feet of business, residential and retail space. In addition to The Campanile Office Park, other noted commercial development projects include Riverway, Pin Oak Office Park and the Plaza Medical Center. Managing principals are John Andell & Ryan Haley. 713-529-4100 or visit www.thehansenpartners.com.
About Equitas Commercial Real Estate Holdings, LLC
Equitas Commercial Real Estate Holdings, LLC is part of an expanding family of companies controlled by local investors who are seeking to build upon a portfolio of high quality properties while offering tenants extraordinary value.

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 2011 global revenue of $3.6 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 2.1 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 $47.7 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.