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News release

MIAMI, FL

Jones Lang LaSalle Brokers the Sale of Kendall Corners in Miami, Florida


MIAMI, April 23, 2013 — Jones Lang LaSalle announced today it has closed the sale of Kendall Corners on behalf of joint owners Weingarten Realty Investors and a subsidiary of TIAA-CREF. Miami-based Orion Ventures purchased the 96,515 square foot shopping center. The property is located in the Kendall submarket of Miami just off the interchange of Florida’s Turnpike and Kendall Drive.

Leading the Jones Lang LaSalle Retail Investment Sales team on this transaction were Managing Directors Margaret Caldwell, Carson Good and Kris Cooper.
“Miami is one of the most vibrant markets in the country, and Kendall Corners represents a great opportunity for the new owner to continue to drive value,” said Good.

Caldwell added, “The property is located in an expansive trade area, due to the sizeable residential and daytime employment base, which is nationally recognized by both retailers and investors as one of Florida’s primary retail corridors.”

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 2012 alone, Jones Lang LaSalle Capital Markets completed $63 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $60 billion in global investment sales and buy-side transactions, equating to nearly $240 million of investment trades completed every working day around the globe. The firm’s Capital Markets team comprises more than 1,300 specialists, operating all over the globe.

For more news, videos and research resources on Jones Lang LaSalle, please visit the firm’s U.S. media center Web page.  Bookmark it here:  http://www.us.am.joneslanglasalle.com/UnitedStates/EN-US/Pages/News.aspx

About TIAA-CREF
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $520 billion in assets under management (as of 3/31/13) and is the leading provider of retirement services in the academic, research, medical and cultural fields.

TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products.
 
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 2012 alone, Jones Lang LaSalle Capital Markets completed $63 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $60 billion in global investment sales and buy-side transactions, equating to nearly $240 million of investment trades completed every working day around the globe. The firm’s Capital Markets team comprises more than 1,300 specialists, operating all over the globe.

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.