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Oasis Outsourcing grows its corporate headquarters and signs long-term lease
WEST PALM BEACH, Dec. 31, 2012 – In one of the largest office market transactions to be completed in Palm Beach during 2012, Jones Lang LaSalle (NYSE:JLL) has finalized a long-term lease that will see one of the nation’s largest Professional Employer Organizations (PEOs), Oasis Outsourcing expand its corporate headquarters at Emerald View at Vista Center in West Palm Beach, Florida. The 49,079-square-foot lease includes an 8,350 square foot expansion through 2023. The deal keeps more than 200 Oasis employees in West Palm Beach. Financial terms of the transaction were not disclosed.Jones Lang LaSalle Vice President Kevin McCarthy represented Emerald View owner KBS Realty in the transaction. “We service our clients and their tenants with great pride, and explore every option to help tenants and owners find creative, mutually beneficial long term real estate solutions,” said McCarthy. “Beyond bringing our occupancy rate to 93percent, the Oasis lease has a positive impact on the neighborhood’s economic base, keeping jobs in our backyard and a boost of confidence to suburban West Palm Beach.”Emerald View at Vista Center is a class A, two-building, 139,471-square-foot office center located at 2054 Vista Parkway, adjacent to Emerald Dunes golf club. Conveniently located off Florida’s Turnpike in the West Palm Beach Central Business District, it is the only suburban property in the market built to exceed hurricane code requirements. The complex is now 93 percent leased, with a tenant roster including Wells Fargo, State Farm and Humana."We are pleased to continue our relationship with Oasis at Emerald View," said Allen Aldridge, KBS Senior Vice President and Asset Manager. "The state-of-the-art hurricane-resistant office property offers Oasis a perfect venue to house its headquarters and continue to grow its business." West Palm Beach-based Oasis Outsourcing provides human resources services, employee benefits, payroll and tax administration, risk management services and staffing solutions to small- and medium-sized businesses throughout the United States. "Oasis has had a strong year in 2012 and is looking forward to growing further in 2013," said Terry Mayotte, Executive Vice President and Chief Financial Officer of Oasis Outsourcing. "The expansion of our headquarters will allow us to further enhance our infrastructure and client support services."About Jones Lang LaSalleJones 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 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 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 $47 billion of assets under management. For further information, please visit www.joneslanglasalle.com.About KBSKBS Realty Advisors is a private equity real estate company and SEC-registered investment advisor founded in 1992 by Peter Bren and Chuck Schreiber. Since 1992, KBS Realty Advisors and its affiliated companies have completed transactional activity of more than $25 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and five non-traded REITs. For information, visit www.kbsrealty.com.About Oasis OutsourcingOasis Outsourcing is a Florida-based Professional Employer Organization (PEO) serving more than 125,000 employees and 4,500 clients nationwide. It specializes in providing human resources services, employee benefits, payroll and tax administration, risk management services and staffing solutions to small- and medium-sized businesses throughout the United States.
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