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News release

PITTSBURGH, PA

Pittsburgh Penguins Select Jones Lang LaSalle as Owners Representative on Redevelopment of the Former Civic Arena Site

Jones Lang LaSalle Starts Marketing of Development to Prospective Tenants and Developers


PITTSBURGH, June 11, 2012 – Jones Lang LaSalle (NYSE: JLL) has been selected by the Pittsburgh Penguins as the owner’s representative for the redevelopment of the former Civic Arena site. Together, Jones Lang LaSalle and the Penguins will finalize a financially feasible master plan for the redevelopment of the Penguins’ 28-acre land site that suits the Penguins’ and the Pittsburgh region’s long-term economic and community interests.

Jones Lang LaSalle will market the development to prospective developers and tenants, which represents a major step in furthering the Penguins’ plan to bring this development concept to reality as a live-work-play, mixed-use development destination for the region. Additionally, the firm will engage community members throughout the planning process, facilitating meetings with regional stakeholders and local political leaders.

Jones Lang LaSalle has assembled a team of industry leaders working on the project including J.C. Pelusi, Market Director, Pittsburgh Region, Jones Lang LaSalle, Kevin Wayer, Co-President, Public Institutions, Jones Lang LaSalle, Chris Molivadas, Managing Director, Project & Development Services, Jones Lang LaSalle, Dan Reidy, Vice President, Public Institutions, Jones Lang LaSalle, Craig Dunham, President, of Pittsburgh based Dunham reGroup, and Avneet Gujral, Sustainable Design Consulting LLC, Project Manager, AIA LEED AP+ ND. 

“The redevelopment of the former Civic Arena site will enhance downtown Pittsburgh and benefit the entire Pittsburgh region, taking advantage of one of the most vibrant markets in the United States,” said J.C. Pelusi, Jones Lang LaSalle. “This project represents an opportunity for a sustainable development program that can transform the former Civic Arena site into an exciting live-work-play community that will directly benefit both those currently living in the city as well as future generations. Given the economic growth in the region, this is the right time for the Penguins to move forward with the project.”

The project’s proposal includes 1,200 units of housing, 600,000 square feet of office space and 250,000 square feet of commercial space on the land site. The team will also seek a Leadership in Energy and Environmental Design (LEED) – Neighborhood Development (ND) accreditation as part of the development.

Jones Lang LaSalle will support the Pittsburgh Penguins through six specific steps, including:
  • Project initiation: Includes market and financial analysis and review
  • Project Planning: Developing a master plan and reviewing infrastructure
  • Land Use Approval Process: Includes the processes of public review and program refinement
  • Project Marketing/Transactions: Marketing the master site to potential occupants and financing sources
  • Execution:  Working with the public agencies to develop and deliver the necessary infrastructure for the plan
  • Performance: Leading efforts for ongoing property management and development
“This is a unique opportunity to maximize the value of 28 acres in an urban area and determine the highest and best use of housing, retail and office development that suits the Penguins as well as Pittsburgh’s long-term economic and community interests,” said Kevin Wayer, Jones Lang LaSalle. “We look forward to continuing the project’s momentum and using our real estate expertise to help the Penguins and the Pittsburgh region in this redevelopment effort.”

In Pittsburgh, Jones Lang LaSalle operates an industry-leading corporate office with more than 400 real estate professionals. The firm provides the full range of real estate advisory and brokerage services including corporate facilities management, agency leasing, tenant representation, project management, industrial and logistical services, lease administration and a 24-hour call center which serves clients from around the world. Jones Lang LaSalle’s public sector real estate practice is a premier provider of strategic real estate advisory and transaction services for local, state, national and international public institutions, covering the spectrum of the real estate cycle.  The firm has assembled a team of professionals who have worked in other cities and states on similar projects and will be expert resources on this initiative.

Jones Lang LaSalle has managed many other complex, highly visible and sensitive urban mixed-use development projects around the world including: Southwest Waterfront in Washington, D.C; Fan Pier in Boston; the London Legacy Project where Jones Lang LaSalle’s role has been to advise the Authority with the planning strategy, feasibility and eventual transaction activity for reuse of the various improvements and sites developed for the Games; and Melbourne Docklands in Australia.

For more news, videos and research resources on Jones Lang LaSalle, please visit and bookmark Jones Lang LaSalle’s U.S. Media Center web page.
 
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 www.joneslanglasalle.com.​