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News release

BOSTON, MA

Jones Lang LaSalle Closes Sale of Five Burlington Woods

Capstone Properties Purchases Prime Route 128 Office Building from ELV Associates


BOSTON, Jan. 10, 2014  — Jones Lang LaSalle’s Capital Markets experts today announced that the firm has closed the sale of Five Burlington Woods, a 95% leased, 103,973-square-foot Class A office building on Route 128 in Burlington, MA on behalf of ELV Associates, Inc. Capstone Properties purchased the three-story building for $21,125,000 million.

Managing Directors Frank Petz and Jessica Hughes, and Vice President Robert Borden led the JLL investment sales team on the transaction, along with Associate Matthew Sherry. Managing Director Tamie Thompson and Vice President Tyler Spring provided leasing expertise.

“This offering gave investors the unique opportunity to purchase a core asset in the heart of the 128 corridor, surrounded by best-in-class amenities and a concentration of leading technology companies,” said Petz/Hughes (attribute quote to Frank or Jessica?). “Investors responded in earnest to Five Burlington Woods’ prime location, high occupancy, institutional quality, and below market rents. Burlington is redefining the suburban tenant experience, emerging as one of the nation’s strongest suburban markets, poised for rent growth. The building has tremendous long-term upside.”

Located at the east end of Burlington Mall Road at the Route 128/Route 3A interchange, Five Burlington Woods has entrances on Burlington Mall Road and South Bedford Street. Adjacent to the property is the Burlington Marriott, and Wayside Common is within short walking distance. Anchored by Fay, Spofford & Thorndike, other tenants at Five Burlington Woods include Axial Financial Group, Orbis, Linear Retail Properties, and CCS America. On-site amenities feature a café with dining room and catering services, covered parking, restaurants, conference facilities, and health club.

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 www.jll.com.