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BOSTON, March 7, 2013 — URDANG, the real estate investment specialist for BNY Mellon Investment Management, has appointed Jones Lang LaSalle as the exclusive leasing agent, construction manager, and property management agent for Two Liberty Square. The 64,357-square-foot jewel box office building in the heart of Boston’s Financial District was recently purchased by URDANG. Located in the heart of Boston’s Financial District across from Post Office Square Park, the 11-story boutique mid-rise is undergoing a renovation of the lobby and entrance.
Two Liberty Square was originally built in 1913. Designed in the Beaux Arts style by Peabody & Stearns, the property was substantially renovated in 1996 and 1997, and combines historical architecture with modern infrastructure. It is centrally located near the Park at Post Office Square, Faneuil Hall Marketplace, the Rose Kennedy Greenway, and the Boston Harbor Waterfront. The iconic gem is currently 81% occupied with nine tenants including Zipcar. Two Liberty Square has signed 40,406 square feet of new leases in the past 16 months.
“We are excited to return to this stylish well-positioned asset and partner with URDANG,” said Jones Lang LaSalle Senior Vice President Brad McGill. “Two Liberty is an outstanding opportunity for small to mid-size tenants looking for quality high profile office space with great visibility in the midst of a resurging downtown. The market is changing dramatically with an exciting new mix of companies, restaurants and stores.”Joining Brad on the leasing and marketing of Two Liberty Square is Vice President Patrick Nugent and Senior Vice President Steve Steinberg.“We are excited to have acquired a boutique historic building in the heart of Boston’s Financial District,” said David Rabin, managing director, Urdang Capital Management. “The small floor plates at Two Liberty cater to the most active tenant base in the market and provide these tenants with a unique opportunity to occupy an entire building floor.”About URDANG URDANG is based in Plymouth Meeting, Pennsylvania and is part of BNY Mellon. URDANG was founded in 1987 with an exclusive focus on institutional investment grade real estate. URDANG offers a variety of strategies and products, managing approximately $6.4 billion in public real estate securities (as of December 31, 2012) through Urdang Securities Management, Inc. and approximately $2.3 billion in debt and private equity real estate investments (as of December 31, 2012) through Urdang Capital Management, Inc. for institutional investors and high net worth individuals throughout global markets and across public and private capital sectors. URDANG’s research-driven process combines top down economic analysis and market/country selection with bottom up underwriting of properties, companies and management teams to seek high, risk-adjusted returns. About Jones Lang LaSalle Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management. For further information, visit www.jll.com.