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News release

Bridgewater, NJ

Jones Lang LaSalle Brings Office and R&D Campus to Market in New Jersey

Property offers highly secure/stable cash flow from investment grade tenants


BRIDGEWATER, NJ AUG 19, 2009 — Jones Lang LaSalle announced today that it is marketing an office and research and development property known as the Bridgewater Campus for sale on behalf of AzkoNobel. The campus consists of eight buildings and is located on Finderne Avenue in Bridgewater, New Jersey.  The campus is currently 79 percent leased to AzkoNobel and the Henkel Corporation for 10- to 15-year terms.
 
Leading the Jones Lang LaSalle team on this assignment are Managing Directors Joseph Garibaldi IV and Peter S. Nicoletti.
 
“Because this property offers investment grade long term cash flow, we expect to garner interest from a wide variety of investors who are seeking a maintenance free, low risk asset,” said Garibaldi.  “There’s also significant opportunity to create upside in the lease up of the current vacant space.”
 
The campus offers 473,909 square feet of rentable space situated on a campus setting of more than 96 acres.  It is situated in one of New Jersey’s major transportation crossroads, offering immediate access to Interstates 287 and 78 and State Routes 202, 206 and 22. The campus has been an owner occupied facility from its inception and now serves as an administrative and research center for both AzkoNobel and the Henkel Corporation.
 
Jones Lang LaSalle Capital Markets is composed of a broad range of real estate investment debt and equity specialists, and corporate finance experts, working on all property types and in all the major national markets on behalf of major institutional and local investors and developers, as well as corporations.  The firm's Capital Markets professionals are highly skilled at pinpointing and tailoring the right capital solutions for each of these client's needs.   The Investment Sales teams assist investors in developing and executing asset recapitalization strategies for office, industrial, retail, multifamily, healthcare and seniors housing product. The firm’s Real Estate Investment Banking experts raise debt and joint venture equity for investors and developers, and provide derivatives structuring and loan sale advisory services.  The Corporate Capital Markets professionals help corporations develop and execute strategies that bridge their occupancy, capital deployment and financial reporting objectives for their facility portfolios.  The Development and Asset Strategy team specializes in the sale of non-income-producing properties in their various forms from vacant buildings to raw land to entitled parcels and partially completed subdivisions.  The firm's Value Recovery Services assist clients affected by the current financial crisis by creating value while managing risks through evaluating operational and occupancy needs, assisting with challenged assets and liabilities on their balance sheets, providing receivership services, asset management, raising capital through sales-leasebacks and providing leasing and recapitalization strategies for distressed assets. In the past two years, the firm’s Capital Markets team handled $117 billion of transaction volume.
 
About Jones Lang LaSalle
 
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2008 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.4 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $36 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.
 
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