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News release

Seattle, WA

Jones Lang LaSalle Markets Prime Seattle Office Campus for Sale

Nine-building office campus located just south of Microsoft World Headquarters


SEATTLE, May 2, 2012— Jones Lang LaSalle’s Capital Markets experts today announced the firm has been hired to market a nine-building office campus for sale in the Seattle submarket of Bellevue, Washington.  The QBE Corporate Campus (formerly Unigard Campus) is located in the heart of the SR 520 Overlake submarket, just moments south of the Microsoft World Headquarters.
 

QBE Corporate Campus (image)


Managing Directors Ann Chamberlin, Lori Hill and Michel Seifer are leading Jones Lang LaSalle team on this offering.
“The opportunity to purchase a corporate campus of this caliber, in such a prime location, rarely presents itself in the Seattle market, and this offering should receive intense interest from both institutional investors around the globe, as well as local development firms,” said Chamberlin.  “The property offers significant upside potential as well, as a new owner will be able to enhance the value of the property through strategic lease-up of the remaining vacancy, with a quality roster of credit tenants anchoring the rest.”

Added Hill, “Puget Sound has emerged from the recession as one of the strongest markets nationally with powerful economic drivers like Boeing, Amazon.com and Microsoft.  We’re seeing rental rate growth and declining concessions as the Eastside market picks up steam.  The time is right for an investor to put down roots in this highly desirable submarket.”

The QBE Campus sits on 46 acres, with nine buildings offering 326,384 rentable square feet.  The property offers easy access to SR-520 and I-505 and sits in close proximity to downtown Bellevue and Redmond.  It also features a fitness center including gym and aerobics studio, locker rooms with shower facility, versatile conference and meeting spaces, a sport court and beach volleyball court and landscaped walking/jogging trails.  The campus is currently 62 percent occupied.

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.