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News release

MINNEAPOLIS, MN

TKDA and Farmers Insurance recommit to St. Paul’s UBS Plaza


MINNEAPOLIS, April 10, 2013 — Jones Lang LaSalle announced today that Farmers Insurance and the engineering, architectural and planning firm TKDA have both signed long-term extensions of their office leases at UBS Plaza in St. Paul.

Jones Lang LaSalle’s Jon Dahl, Brent Robertson and Ann Rinde completed the transaction on behalf of the building’s owner, Philadelphia-based RAIT Financial Trust.

In the larger of the two deals, TKDA, the largest tenant in the 230,000-square-foot building, completed a long-term extension of its lease for 50,000 square feet on floors 13 through 16. As a part of the agreement, building ownership has agreed to fund a variety of improvements to TKDA’s space. TKDA was represented by Tom Braman of Braman & Associates, Inc.

In addition, Farmers Insurance renewed and expanded its lease on the building’s 12th floor from 8,500 to 12,000 square feet. Farmers was represented by UGL Services – Equis Operations.

Located at 444 Cedar Street in the heart of downtown St. Paul, the 25-story UBS Plaza was acquired by RAIT in the spring of 2012 and the company has since begun work on a multi-million-dollar elevator modernization project.

Jones Lang LaSalle took over as the building’s exclusive leasing agent in June.
“TKDA has always enjoyed being a tenant at UBS Plaza, which we think provides one of the best locations and some of the best amenities in downtown St. Paul,” said TKDA’s president and CEO, William Deitner. "I am very pleased that we have come to a new long-term lease agreement, which ensures that our 200 St. Paul employees remain here for many years to come.” 

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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.