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News release

HOUSTON, TX

Jones Lang LaSalle Closes Sale of Woodlands Crossing

Realm Realty sells the 125,186-square-foot shopping center


​HOUSTON, Feb. 18, 2013 — Jones Lang LaSalle’s Capital Markets experts today announced the firm has closed the sale of Woodlands Crossing on behalf of Realm Realty.  An affiliate of First Washington Realty Inc. purchased the six-building, 125,186-square-foot Trader Joe’s-anchored shopping center located at the southeast corner of Woodlands Parkway and Kuykendahl Road in The Woodlands, Montgomery County, Texas.  Woodlands Parkway is the first Trader Joe’s location to open in the Houston area.

Managing Director George Cushing and Vice President Wendy Vandeventer led the Jones Lang LaSalle team on this transaction.

“This offering provided a rare opportunity to purchase a fully leased, grocery-anchored center in one of Houston’s most desirable retail, residential and employment submarkets,” said Cushing.  “Woodlands Crossing’s prime location and strong tenancy made this property a solid investment choice for First Washington.”

Added Vandeventer, “Woodlands Crossing is located in one of the fastest growing areas in the State of Texas.  In addition, as The Woodlands is a strictly controlled master-planned community, the restrictive land uses make new development in the area particularly difficult and highly unlikely.”

Woodlands Crossing is situated on a 20-acre site, 34 miles north of Houston’s Central Business District.  In addition to Trader Joe’s, tenants include 24 Hour Fitness, Ace Hardware, Petco, Starbucks, Pei Wei, Woodlands Emergency Clinic, Flooring America, Comerica Bank, Dickey’s Barbeque Pit, Nothing Bundt Cakes, Elements Therapeutic Massage, New Balance and Red Mango Yogurt & Smoothies.

The Woodlands, a nationally acclaimed, 28,000-acre master-planned community, is home to some 1,755 national and international employers and 49,960 employees.

Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2011 alone, Jones Lang LaSalle Capital Markets completed $60 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $52 billion in global investment sales and buy-side transactions, equating to nearly $216 million of investment trades completed every working day around the globe. In the United States, Jones Lang LaSalle grew its total Capital Markets volumes by 122 percent in 2011 and is quickly gaining market share across all property types. The firm’s Capital Markets team comprises more than 1,200 specialists, operating all over the globe.

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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.