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Seattle, November 9, 2012 — Jones Lang LaSalle (JLL) has been awarded exclusive leasing and management of 1800 41st Street, a 290,024 square foot Class A office building in Everett, Wash. Danny Seger, Pat McCabe and Brent Jackson of Jones Lang LaSalle will handle the listing. Steve Mace of Jones Lang LaSalle will oversee property management.
The property was purchased November 7, 2012 by 1800 41st Street LLC. According to Alex Sassoon, one of the partners, “We are extremely pleased to invest in this asset, and look forward to acquiring other quality properties here in the Seattle area.”
As part of the acquisition, former owner Frontier Communications Corporation agreed to lease back approximately 165,000 square feet of the twin-towered property. This leaves 125,000 square feet available for lease. All of the available space is within the property’s south tower. The two towers are connected by a five-story atrium.
1800 41st Street is a Class A facility with robust telecom connectivity and redundant emergency building systems. The property sits one block west of Interstate 5 and just south of Everett’s central business district. The property also sits on the Interurban Trail, an 18.8 mile paved bikeway running from Everett to Edmonds and on into north Seattle. The property was designed by Callison Architecture and built by Lease Crutcher Lewis in 1981.
“This is an exciting opportunity for North-end office and tech firms,” said Pat McCabe of Jones Lang LaSalle. “This property is the largest Class A office building in the City of Everett, and has never been available to the tenant market.”
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About Jones Lang LaSalleJones 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.
Andrew Neilly/Tim Gallen
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