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News release

AUBURN, AL

Jones Lang LaSalle Markets Prime Industrial Facility for Sale in Alabama

Industrial-grade long-term tenant makes GE Aviation Facility appealing to investors


AUBURN, Ala. July 2, 2012 —  Jones Lang LaSalle’s (NYSE: JLL) Capital Markets experts today announced the firm is marketing for sale the GE Aviation Facility located at 2400 Innovation Drive in Auburn, Alabama on behalf of Scannell Development. The 314,845-square-foot, build-to-suit manufacturing facility will be completed and delivered in October of 2012.

Jones Lang LaSalle Managing Director John Huguenard and Executive Vice President Peter Harwood are leading the team on this transaction.

“General Electric Company (“GE”) executed a 12-year lease with the developer, Scannell Development, and expects to take occupancy in the fall of 2012 with a 10-year extension option,” said Huguenard. “The GE Aviation Facility represents a secure and stable investment opportunity for a potential buyer as it has in place a long-term lease with an investment grade tenant and we expect the property to garner a significant amount of investor interest.”  
 
Once completed, the state-of-the-art GE Aviation Facility will be LEED Silver certified with redundant power and telecom feeds, and 35,865 square feet of office. The manufacturing facility will produce precision, super-alloy machined parts for GE jet engines. Located in the diverse and dynamic industrial market of Auburn, Alabama, the facility is poised to capitalize on a highly educated labor force in the area.
 
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 www.joneslanglasalle.com.​