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News release

PARSIPPANY, NJ

Jones Lang LaSalle Selected to Manage, Lease 445 South Street in Morris Township, NJ

China Construction America taps JLL to provide exclusive agency leasing, marketing & property management services for 320,000-SF corporate campus in Morris County


PARSIPPANY, NJ, May 6, 2013 — China Construction America Inc. has selected Jones Lang LaSalle as exclusive leasing agent and property manager for 445 South Street in Morris Township, N.J. The firm will provide agency leasing services, marketing and property management services for the Class A, 320,000-square-foot commercial office building.

The JLL team overseeing the leasing assignment will be led by Jonathan Meisel, managing director, and includes Susan Mason, executive vice president; and Chris Conklin and Ruth Wang, vice presidents. Property management services will be led by Linda Aronson, managing director, and Beth Pereira, group manager, with Lisa Lindsay, assistant general manager, serving as onsite manager at the property. The agency leasing and property management teams will work closely with Phillip Gesue, vice president of real estate, with China Construction America.

“We couldn't be more excited about working with China Construction on its first acquisition in New Jersey," said Aronson. "This is a great office property, with terrific tenants, and we are confident we can build on the existing quality and take it to the next level with JLL's broad platform of services as we reintroduce the building to the market."

“This is one of the few office buildings in New Jersey that has been completely renovated,” said Meisel. “Along with thoroughly upgrading the infrastructure at 445 South Street, the property was enhanced with amenities such as a café, a gym and conference centers. These efforts have truly stabilized the building, creating a highly prestigious corporate destination. In addition, given its location in the heart of Morris County, 445 South Street offers employers access to the area’s very desirable demographics.”

“445 South Street is a well-located, institutional-quality asset that is already substantially leased to major corporations.  We are very pleased with the acquisition and plan to use some of the space for our future growth needs, and the balance as an income producing asset,” said Gesue. “We continue to pursue residential real estate development opportunities in the greater New York metropolitan area from our New Jersey headquarters.”

The four-story 445 South Street was constructed in 1982 and thoroughly renovated in 2008. Amenities at the property include a full-service cafeteria, a full-size basketball court, two common area conference rooms, a fitness center and nearly 1,400 parking spaces. Located between Blackberry Lane and Southgate Parkway in Morris Township, 445 South Street is one block from I-287 and is close to Routes 10 and 24, I-78 and I-80. It offers convenient access to NJ Transit's Morristown and Convent train stations.

Chinese companies invested nearly $300 million in U.S. real estate in 2012 in 11 separate transactions, including two development sites, in New York, California, Texas and Florida. So far this year, Chinese companies have completed two transactions — the acquisition of a development site in San Francisco and the purchase of 445 South Street.

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 and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management. For further information, visit www.jll.com.