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News release

HOUSTON, TX

Jones Lang LaSalle Markets Shops of Bella Terra for Sale in Houston Submarket

Newly constructed power center located in dynamic west Houston submarket


HOUSTON, Apr. 16, 2012 — Jones Lang LaSalle’s (NYSE: JLL) Houston Retail Capital Markets team today announced the firm has been hired by Moody Rambin Interests to bring Shops of Bella Terra to market in the west Houston submarket.  The 325,573-square-foot, newly constructed power center is located in the affluent far west Houston metropolitan area along the Grand Parkway Corridor at the Westpark Tollway intersection.  Shops of Bella Terra is expected to fetch in excess of $90 million.

Managing Director George Cushing and Vice President Wendy Vandeventer are leading the Jones Lang LaSalle team on this transaction, while Managing Director Paul House and Senior Vice President Jimmy Board are providing debt/equity financing options.

Shops of Bella Terra is a highly successful landmark retail venue shadow-anchored by a 184,109-square-foot Walmart Supercenter and an 88,793-square-foot Kohl’s. Total project size is nearly 600,000 square feet.  National retailers include Ross Dress for Less, PetSmart, Best Buy and Sports Authority. “Based on the size, tenancy, and quality of the development, we expect Shops of Bella Terra to attract significant attention from institutional investors seeking a secure long-term investment that is positioned to benefit from the outpaced residential growth and the extremely strong demographics in the region,” said Cushing.

Shops of Bella Terra is located immediately south of Cinco Ranch, an award-winning 8,100-acre master planned community, ranked second in the Top 20 Master Planned Communities in the Nation by Metrostudy.  Estimated household incomes within a five-mile radius are $126,000 a year—double the Houston average.  Shops of Bella Terra was developed by Moody Rambin Interests and has been completed and occupied in stages since late 2008.

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.

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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.
 
About Moody Rambin Interests
Established in 1969, Moody Rambin Interests specializes in providing project leasing, tenant representation, disposition, development, consulting and management services to owners and tenants throughout the United States. The firm's portfolio of managed and owned properties includes the retail, office and industrial sectors.  Moody Rambin Interests is Houston's largest locally-owned, full-service commercial real estate brokerage and management firm.