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News release

Washington, D.C.

Paramount Group Selects Jones Lang LaSalle to Lease 2099 Pennsylvania Avenue

Well-located, Trophy property recently purchased by Paramount Group


Washington, D.C., Feb. 22, 2012 – Jones Lang LaSalle (NYSE:JLL) has been appointed by Paramount Group, Inc. to lease the company’s newly acquired 2099 Pennsylvania Avenue, located in the heart of Washington, D.C.’s central business district.

Managing Director Trip Howell and Senior Vice President Amy Bowser of Jones Lang LaSalle will head the leasing operations for the property on behalf of Paramount Group.

“Jones Lang LaSalle has a long history with 2099 Pennsylvania Avenue and we look forward to being involved with the leasing of the building,” said Amy Bowser, Senior Vice President, Jones Lang LaSalle. “This trophy building provides high-quality space that is available in a prime location and at a time when few new buildings will be delivered.”

Paramount purchased the building in February from Vico Capital for $155 million, making the building Paramount’s fifth office property in its 1.5-million-square-foot Washington-area portfolio.

“We are happy that Jones Lang LaSalle will continue to work at leasing 2099 Pennsylvania Avenue on our behalf,” said Albert Behler, President & CEO of Paramount Group, Inc. “Benefiting from Paramount Group’s brand strength and extraordinary, award-wining management, coupled with Jones Lang LaSalle’s creative savvy in marketing and leasing, we are confident 2099 will complement the leading edge performance of our entire portfolio.” 

Delivered in 2001, 2099 Pennsylvania Avenue was designed by I. M. Pei of the internationally renowned architectural firm Pei Cobb Freed and Partners. The building has a floor-to-ceiling glass façade, multiple terraces, a lobby composed entirely of Tennessee marble and stellar White House and city views.  Other amenities include an on-site fitness center, 24-hour security guard services and underground parking.
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About Paramount Group, Inc.
With over 13 million square feet of Class “A” commercial office buildings in Midtown & Downtown New York, Washington D.C. & San Francisco, over 40 years of proven expertise across a variety of real estate disciplines, markets and phases of the market cycle, along with its affiliation to a multi-billion-dollar conglomerate of international companies, Paramount is a trusted, respected and internationally recognized partner. The company employs a hands-on, high energy management philosophy, implemented by a goal-oriented and highly experienced Executive team which provides the Trophy buildings and Six Funds with a competitive advantage in sourcing transactions and executing its investment strategy. As a founding member of The Greenprint Foundation and proactive in global environmental endeavors committed to reducing the carbon footprint of the built environment, the firm is well known for its eco-friendly practices and is USBC-recognized for landlord leadership in sustainability. For additional information, please visit www.paramount-group.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 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.