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News release

FORT LAUDERDALE, FL

Jones Lang LaSalle Signs Industrial Lease of 40,000 SF in Broward County

Deal marks the expansion of Chicago-based company Berlin Packaging in the South Florida market


FORT LAUDERDALE, April 02, 2013 – As demand for industrial real estate in South Florida picks up and new tenants look to enter the market, Jones Lang LaSalle (NYSE:JLL) has secured a 40,000-square-foot lease on behalf of Berlin Packaging, a leading North American packaging supplier, at a new spec distribution building at 9682-9698 Premier Parkway, located within the Miramar Park of Commerce. The lease marks a significant expansion for the Chicago-based company in the South Florida market. Jones Lang LaSalle’s Managing Director Steven Medwin SIOR, CCIM, Senior Vice President Chris Watts and Vice President Nick Wigoda, completed the lease transaction on behalf of the tenant.

The Berlin Packaging lease brings total occupancy at the 87,540-square-foot building to 100 percent just one month after Sunbeam Properties delivered the spec building to the market. Chicago-based Berlin Packaging chose to expand its South Florida presence to better service new and existing customers from its new home in Broward County.

“We are excited for our new warehousing space in the Miramar Park of Commerce. It will enable us to thrill even more customers with our inventory programs and our long track record of on-time delivery,” said Larry Rydzewski, Berlin Packaging’s Chief Operating Officer.

The remainder of the building is occupied by a new-to-market manufacturing company which recently leased nearly 48,000 square feet, a deal also completed by Jones Lang LaSalle brokers.

“The fact that two highly regarded national companies have absorbed the latest spec building to be constructed at Miramar Park of Commerce, just one month after the new building was delivered, is a testament to the desirability for new warehouses and the strength of the South Florida industrial market,” said Jones Lang LaSalle Managing Director Steven Medwin. “Seeing national companies expanding here is a positive indicator for our regional economy, as their investments translate to additional jobs and increased business activity for our marketplace.”

With demand outpacing supply in South Florida’s industrial market, the region continues to see new spec projects breaking ground within submarkets like Airport West, Medley and parts of Southwest Broward County, according to Jones Lang LaSalle’s latest South Florida Industrial Highlights report. Currently, there are 10 speculative warehouses under construction in South Florida by institutional owners, such as Prologis, Industrial Income Trust, DCT Industrial Trust, and KTR Capital Partners. 

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.