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News release

BOSTON, MA

Principal Global Investors Names Jones Lang LaSalle Construction Team the General Contractor for One Rogers Street Lobby Project


BOSTON, SEPT. 20, 2012 — Principal Real Estate has named Jones Lang LaSalle construction manager/general contractor for a major interior renovation of the main lobby and courtyard at One Rogers Street in Cambridge. The multi-million dollar project includes all new finishes, materials and landscaping.
Renovations to the two-story glass atrium lobby and courtyard include: all new vinyl woven flooring, new energy efficient light fixtures, glass walls, wood veneer column wraps, upgrades to the elevator lobby and interior elevator cabs, and a new main reception/security desk with electronic tenant directory. The courtyard will feature: the complete removal of all existing hardscape and landscaping to allow for new sidewalks pavers, and plantings; custom steel trellises; new wood and precast stone benches; new ambient lighting; and installation of a new irrigation system. The project is scheduled for completion at end of year.

“The planned lobby and courtyard renovations at One Rogers Street will enhance this property’s standing as a premier class A Cambridge office building,” said John Carrick, assistant managing director – northeast region for Principal Real Estate Investors. “As long term investors, we are good stewards of our capital, working hard to ensure our properties are up to date and meet the highest possible standards. We look forward to partnering with Jones Lang LaSalle in fulfilling this obligation at One Rogers Street.”

One Rogers Street is a 252,000-square-foot modern first class office building that adjoins One Charles Park. Tenants in the building include Pegasystems, IBM, and Aetna. Calumet Photo has opening its new store at street level.
The Jones Lang LaSalle Construction team is comprised of Senior Vice President and Construction Manager John Thomas, Project Executive Barrie Ferraro, Senior Superintendent Michael Belanger, Superintendent Larry Castaldo, Estimator Cadman Corbett, and Safety Officer DonPaul Benzaquin.

About Principal Real Estate Investors
Principal Real Estate Investors manages or subadvises $41.5 billion in commercial real estate assets. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.

About Jones Lang LaSalle Construction
Jones Lang LaSalle offers comprehensive services as a construction manager, general contractor and design/builder, completing over 500 diverse assignments annually. With a service reach throughout New England, the Mid-Atlantic, mid-West and the West Coast, Jones Lang LaSalle constructed $145 million in 2011. Delivering construction solutions to an extensive roster of Life Sciences, Higher Education, Government, Corporate, Industrial, Technology, Hospitality, and Residential/Retail clients, assignments range from smaller interior fit outs to $100 million mixed-use developments. Their on line portfolio can be viewed at www.us.joneslanglasalle.com/boston/construction.

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 billion of assets under management. For further information, please visit www.joneslanglasalle.com.