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News release

TAMPA, FL

Jones Lang LaSalle Completes 100,000SF Expansion for HealthPlan Services in Tampa

Health care company’s growth will generate 1,000 jobs


TAMPA, Sept. 26, 2013 – In the largest new office lease signed so far this year in the Tampa area, Jones Lang LaSalle (JLL) has completed a 100,000-square-foot lease on behalf of HealthPlan Services, the largest independent provider of services for the insurance and managed care industries. The company is opening a new facility at 6700 Lakeview Center Drive in East Tampa. The deal represents net positive absorption for the Tampa office market, as HealthPlan Services will occupy space that was vacant for close to three years.

Chad Rupp, JLL’s Managing Director for Central Florida, represented HealthPlan Services in the transaction along with JLL’s Anne-Marie Woessner-Collins, who structured the tenant’s economic incentive package in collaboration with the local and state government. The property’s owner, Penn-Florida, was represented by Mercedes Angell and Jeff Lanning of Cushman & Wakefield. Financial terms of the lease were not disclosed.

“We have been working with HealthPlan Services since 2012 to find an adequate space and to structure the incentive package that will bring its newest facility here to Tampa, furthering cementing Tampa’s position as a hub for the health care and insurance industries,” said Chad Rupp. “HealthPlan’s decision to expand its presence in Tampa will strengthen the local office market, as it represents the demand for additional office space and the creation of hundreds of more jobs.”

Both the state and local governments help support the costs of recruiting, hiring and training through the State’s Qualified Target Industry program and the Governor’s Closing Fund. The incentives will be distributed over five years and are based on performance, which means the jobs have to be created before the funds are allocated.

Tampa has long been a hub for the healthcare and insurance industries, thanks in large part to the availability of a skilled and trainable labor force. The healthcare sector’s share of the office market is expected to continue growing, following the passage of the Patient Protection and Affordable Care Act, which will extend insurance coverage to more than 30 million additional Americans and expand the operations of healthcare providers and the third party administrators that serve them.

Jones Lang LaSalle research shows that healthcare related tenants have nearly doubled their presence in the Tampa Bay region, from around 12 percent historically to more than 23 percent of total leasing volume today. This growth in market share should continue given that healthcare users account for more than 20 percent of all active space requirements in the region’s office market.

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 $46.3 billion of real estate assets under management. For further information, visit www.jll.com.