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News release

Washington, DC

Jones Lang LaSalle Advising Florida Rock Properties on Planned Urban Development on Anacostia

RFP for Joint Venture Partners to be Issued in July for Project Across from Nationals Baseball Stadium


Washington, DC, July 14, 2009 - Jones Lang LaSalle has been retained by Florida Rock Properties, Inc. to identify a development/equity partner to participate in the development of RiverFront on the Anacostia (RiverFront).
 
RiverFront is a mixed-use, 1,115,400 million square foot waterfront project with Second Stage Planned Unit Development (PUD) approval from the District of Columbia. Florida Rock Properties is seeking a partner with demonstrated experience and financial capability to oversee the design and construction of Phase I and Phase II of the four phase development.
 
“This is a unique opportunity to invest in a high-profile commercial, residential and recreational waterfront development site in one of the nation’s strongest real estate markets,” noted Stephen Perkins, Senior Vice President, Jones Lang LaSalle.
 
This submarket is experiencing an incredible transformation and significant investment and re-development. The site offers exceptional views of the downtown skyline including the U.S. Capitol, the Washington Monument, the Washington Nationals Baseball Stadium and the Navy Yard. On-site amenities will include arcaded retail areas, public plazas terraced down to the Anacostia River, water features, a bike trail, and a waterfront esplanade.
 
RiverFront on the Anacostia offers convenient access to the Navy Yard Metro station, the District’s downtown corridor via Interstate 295, South Capitol Street, and bridges located at 11th and 12th Streets NE.
 
About Florida Rock Properties, Inc.
 
Florida Rock Properties, Inc. through its development arm FRP Development Corp.  (FRP), is a Maryland based full service development company specializing in commercial and industrial real estate with an emphasis on industrial/business parks in suburban like settings.  Both companies are wholly owned subsidiaries of Patriot Transportation Holding, Inc. (www.patriottrans.com), a Florida-based company, publicly traded on the NASDAQ Exchange under the symbol “PATR”. Patriot Transportation Holding, Inc., through other affiliates, is also engaged in the transportation business.
 
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 2008 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.4 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 more than $46 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.
 
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