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Jones Lang LaSalle Closes Sale-Leaseback of a Portion of the Walgreens Corporate Headquarters

CHICAGO, Oct. 9, 2013 — Jones Lang LaSalle’s Capital Markets team today announced the sale-leaseback of  a six-building, 574,605-square-foot portion of the Walgreens Corporate Campus on Lake Cook Road in Deerfield, Ill.  A national REIT purchased the 38-acre property and secured a long-term lease from Walgreens. Consideration paid was not disclosed.

Managing Directors Guy Ponticiello and Bruce Westwood-Booth and Senior Vice President Brian Shanfeld led the Jones Lang LaSalle (JLL) team on this transaction.

“Representing a rare chance to purchase office property in Chicago’s prestigious North Shore, this is an outstanding acquisition for Realty Income and will round out their portfolio nicely,” Ponticiello said.
Westwood-Booth added, “Given the outstanding real estate location and Walgreens’ investment-grade credit rating, this transaction will provide the buyer with a very secure income stream in the years ahead.”

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. Its investment management business, LaSalle Investment Management, has $46.3 billion of real estate assets under management. For further information, visit​