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News release


Jones Lang LaSalle Closes $56.5M Development Site Sale in Seattle

Five parcels of land located across robust downtown market can host variety of property types

SEATTLE, Jan. 7, 2014 — On behalf of Cassieford Company, Jones Lang LaSalle’s (JLL) Capital Markets experts today announced the sale of the Honda Dealership Land Development in Seattle’s Central Business District. Washington State Convention Center Public Facilities District (WSCC) purchased five parcels, totaling 86,935 -square-foot development site for $56.5 million.

Managing Directors Stuart Williams, Lori Hill, Ann Chamberlin and David Young led the JLL team on this transaction and partnered with Mickey Smith, who acted as an advisor.

“Seattle is a prime market for developers to place their dollars as job and population growth is expected to continue in 2014,” said Williams. ““This purchase will keep one of the expansion options open for WSCC.”

The parcels are located at:
•    Parcel 1 is located at 920 Olive Way
•    Parcel 2 I located at 1004 Olive Way, 1708 Terry Avenue and 1711 Boren Avenue
•    Parcel 3 is located at 1711 Boren Avenue
•    Parcel 4 is located at 1017 Olive Way
•    Parcel 5 is located at 1105 Olive Way

The Honda Dealership land site is located in close proximity to Seattle’s major employers as well as shopping, entertainment and dining options. Zoning allows for future development of multifamily, office, retail, or hotel assets.

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 $46.7 billion of real estate assets under management. For further information, visit