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News release

SAN DIEGO, CA

Jones Lang LaSalle Opens Downtown San Diego Office

Two additional leases negotiated by JLL at 450 B Tower


SAN DIEGO, Dec. 13, 2012 – Jones Lang LaSalle (JLL) opened a downtown San Diego office at 450 B Tower, located at 450 B St. in the heart of the downtown San Diego financial district, to better serve its downtown clients. JLL’s brokerage team just completed two leases in the same building, totaling 9,325 square feet of space, representing the landlord, BCL, in both transactions.

  • A.V. Arias & Co. leased 7,078 square feet of space at 450 B Tower in downtown San Diego. JLL’s Executive Vice Presidents Richard Gonor and Bess Wakeman negotiated the lease on behalf of BCL. The tenant was self-represented. The 60-month lease is valued at approximately $925,000.
  • James & Waddle PC leased 2,247 square feet of space at 450 B Tower. Gonor and Wakeman negotiated the lease on behalf of BCL. The tenant was represented by Jimmy Langley of Schwartz Commercial Realty. The 40-month lease is valued at approximately $175,000.

JLL will also maintain its primary San Diego office at La Jolla Commons in UTC.

“Opening an office in downtown is a great way for us to demonstrate our commitment to this vibrant and growing submarket, and we appreciate the hands-on ownership and building management approach of BCL,” said Gonor. “Within downtown, 450 B Tower is an exciting project, attracting a lot of interest both for its planned renovations and BCL’s flexible approach to deal making.”

Real estate investor and operator BCL re-entered downtown San Diego late last year with its acquisition of 450 B Tower, and soon thereafter announced plans for extensive, Class A-level interior renovations at the property. Renovations thus far include extending the upgraded, Class-A lobby finishes to upper floor corridors and restrooms and creating a new, state-of-the-art conference facility. Work has also included updating standard tenant finishes with several new occupancy ready “spec” suites and elevating the building operations to a Class A level of service.

Jones Lang LaSalle is a leader in the San Diego commercial real estate market. The firm employs approximately 120 of the area’s most recognized industry experts offering services in brokerage, capital markets, facility management and project development services. In 2011, the San Diego team completed 3.74 million square feet in lease transactions and directed $34.5 million in project management and currently leases and/or manages more than 5.5 million square feet in the market.

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