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News release

NEW YORK, NY

Jones Lang LaSalle Completes Sale of 99 Seaview Boulevard in Port Washington, NY

Firm sells 160,000-SF flex industrial space to Phillip and Carl DelPrete; wholesale produce distributor to occupy distribution space at facility in relocation from the Bronx


NEW YORK, February 14, 2013 — Jones Lang LaSalle has completed the sale of the 160,000-square-foot 99 Seaview Boulevard in Port Washington, N.Y., for 99 Seaview LLC.

The seller was represented by Joseph Lagano II, associate, along with Douglas Omstrom and Thomas DiMicelli, senior vice presidents, all with JLL. The buyers, Phillip and Carl DelPrete, were represented by Feinberg Bros. Agency Inc.

“Jones Lang LaSalle began marketing 99 Seaview Boulevard for the seller in early 2012,” said Lagano. “We became aware of R-Best Produce’s interest in the facility in October through our relationship with Feinberg Bros., which had been exploring properties throughout the New York and New Jersey metropolitan region with R-Best for more than a year. Working together, we were able to complete the sale in just two months. The seller was eager to complete the transaction in 2012, before any changes to tax laws could take effect. R-Best Produce will keep the warehouse space for its own use, bringing more than 50 new jobs to the area around Port Washington.”

Located on nine acres of land in the Seaview Commerce Center in Port Washington, 99 Seaview Boulevard comprises a three-story central office section along with two wings of state-of-the-art warehouse space.
R-Best Produce is relocating from its current location in the Bronx to 99 Seaview Boulevard. The wholesale produce distributor intends to occupy the warehouse space at the building for its own use. R-Best Produce received an inducement package from the Nassau County Industrial Development Agency that includes a property tax abatement and other incentives.

JLL is a leader in the New York tri-state commercial real estate market, with more than 1,750 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2011, the New York tri-state team completed approximately 15.9 million square feet in lease transactions, arranged capital markets transactions valued at $1.57 billion, managed projects valued at more than $6.8 billion, and oversaw a property and facilities management portfolio of 63.6 million square feet and an agency leasing portfolio of 49.8 million square feet.

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.