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News release

HOUSTON, TX

Jones Lang LaSalle Closes Sale of Houston Shopping Center

Houston Metro considered one of the strongest in the nation


HOUSTON, Oct. 2, 2013 — Jones Lang LaSalle’s Capital Markets experts today announced the firm has closed the sale of Montgomery Plaza on behalf of Houston-based Weingarten Realty Investors. The 304,867 square-foot shopping center, located in Conroe, TX was purchased by American National Insurance Company.

Jones Lang LaSalle’s Managing Director George Cushing and Vice President Wendy Vandeventer led the team on this transaction.

“This property delivers a secure income stream, with rents well below the national average,” said Cushing. ”This is a major factor why the shopping center stands 95 percent leased with reputable national and regional credit tenants and why it was so appealing to ANICO.”

“The greater Houston area is an extremely strong market,” added Vandeventer. “Montgomery Plaza is located by other retailers, major expressways and residential facilities which brings in quite a bit of traffic.”

The plaza hosts retailers including Academy Sports & Outdoors, Big Lots, Conn’s Appliances, 99 Cents Only and Petco. In addition to the inline space, there are two multi-tenant pads and two single-tenant pads.

Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2012 alone, Jones Lang LaSalle Capital Markets completed $63 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $60 billion in global investment sales and buy-side transactions, equating to nearly $240 million of investment trades completed every working day around the globe. The firm’s Capital Markets team comprises more than 1,300 specialists, operating all over the globe.

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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.