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News release


Jones Lang LaSalle Closes Sale of Core Mixed-Use Property in Boston Submarket

L&B Realty Advisors purchases office/retail property in Cambridge for $40.1 million

BOSTON, May 16, 2012 — Jones Lang LaSalle’s Capital Markets experts today announced the firm has closed the sale of 625 Massachusetts Avenue, located in the Cambridge submarket of Boston, for the Samuels Property Group.  L&B Realty Advisors, LLC purchased the mixed-use office retail property for $40.1 million.

The Jones Lang LaSalle Capital Markets team was led by Managing Director Scott Jamieson, with leasing guidance from Executive Vice Presidents John Osten and Peter Bekarian.

“This premiere core asset offered up an extremely attractive list of quality credit tenants in the midst of Central Square, making it extremely appealing to investors,” said Jamieson.  “The Cambridge market continues to outperform all others in the Boston region and the time was right for Samuels Property Group to bring 625 Mass to market.  L&B Realty can now capitalize on strong market fundamentals and momentum related to proximity to both MIT and Harvard and the world’s leading life science companies that surround this asset.”

Built in 1929, 625 Massachusetts Avenue underwent a complete renovation in 2000.  The 122,104-square-foot, three-story, plus lower level, property is located across the street from the MBTA’s “Central” red line stop, and just one stop from Harvard Square and four stops from Downtown Crossing in Boston.  The property is 100 percent occupied to strong credit tenants including Harvard College, TD Bank, Walgreen’s and Harmonix Music System.

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 2011 alone, Jones Lang LaSalle Capital Markets completed $60 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $52 billion in global investment sales and buy-side transactions, equating to nearly $216 million of investment trades completed every working day around the globe. In the United States, Jones Lang LaSalle grew its total Capital Markets volumes by 122 percent in 2011 and is quickly gaining market share across all property types. The firm’s Capital Markets team comprises more than 1,200 specialists, operating all over the globe.

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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 $47.2 billion of assets under management. For further information, please visit