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News release

HOUSTON, TX

Jones Lang LaSalle Closes Land Sale For Consolidation of Several of Dover’s Energy Businesses in Houston


HOUSTON, Feb. 25, 2013 — On behalf of Dover (NYSE: DOV), Jones Lang LaSalle today announced the firm’s Industrial experts have closed the sale of 14 acres of land in the Lower Kirby Urban District in Pearland, Texas, one of Houston’s fastest-growing submarkets. The suburban development district will be the future site of the Dover Energy segment’s 150,000-square-foot consolidated manufacturing and operations center. Senior Vice President Jarret Venghaus, SIOR and Executive Vice President Bob Berry, SIOR of Jones Lang LaSalle led the team that represented the buyer. Ron Dagley of Betz Commercial Brokerage, Inc. represented the seller, SHT/Kirby, LTD.

“Dover was looking to consolidate the manufacturing and operations of several stand-alone businesses into one site that was convenient and would best position it for future growth, and we found a great location for them that will suit all of their needs in a modern business park environment,” said Venghaus. “Matt Buchanan and his staff at the Pearland Economic Development Corporation (PEDC) were instrumental in facilitating this transaction.”

The site is located near Shadow Creek Ranch at the south side of Sam Houston Tollway, a major thoroughfare that encircles the city of Houston and offers excellent access to all major submarkets outside the central business district, including the Energy Corridor. The new facility will be convenient to the central business district by way of highway 288.

”The City of Pearland and PEDC are excited that a world-class, Fortune 500 company such as Dover has selected Pearland’s Lower Kirby District as the location for its consolidated operations,” stated Matt Buchanan, PEDC president. “They are an excellent addition to the current mix of companies located in the District and we appreciated the opportunity to work with Jones Lang LaSalle and Betz Commercial Brokerage.”

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About Dover
Dover is a diversified global manufacturer with annual revenues of over $8 billion. For over 50 years, Dover has been delivering outstanding products and services that reflect its market leadership and commitment to operational and technical excellence. The Company's entrepreneurial business model encourages, promotes and fosters deep customer engagement which has led to Dover's well-established and valued reputation for providing superior customer service and industry-leading product innovation. Dover focuses on innovative equipment and components, specialty systems and support services through its four major operating segments: Energy, Communication Technologies, Engineered Systems and Printing & Identification. Headquartered in Downers Grove, Illinois, Dover employs 35,000 people worldwide. Dover is traded on the New York Stock Exchange under "DOV." Additional information is available on our website at www.dovercorporation.com.

About SHT/Kirby Ltd.
SHT/Kirby, Ltd. is a Raymond Betz limited partnership that originally had 34 acres at this intersection.  They still have 8 acres of prime frontage on Sam Houston Tollway feeder road as part of our original business park.  According to Mr Betz "We anticipate this remaining tract will be sold for office development!"

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.