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News release


Jones Lang LaSalle Closes $82.5M Sale of Two Office Towers

Class A assets located in one of Orange County’s top business districts

LOS ANGELES, Jan. 21, 2014 — Jones Lang LaSalle’s (JLL) Capital Market experts today announced the sale of 1 and 2 MacArthur Place. The two Class A assets sold by GLL Real Estate Partners are located in the mixed-use MacArthur Place development in Orange County’s South Coast Metro submarket. Blackstone Group purchased the property for $82.5 million.

Managing Director Michael Zietsman and Vice President Baker Morphy led the JLL team on the transaction.

“Buyers were presented with an incredible opportunity to obtain large blocks of Class A office space,” said Zietsman. “The Area Airport submarket has seen a significant increase in office leasing activity, which should result in heightened tenant interest and a significant value-add opportunity for Blackstone.”

The office towers total 409, 762 square feet and are located in Santa Ana, California. As part of the MacArthur Place campus, the properties are located on the same site as retail and residential properties and are also near the area’s airport and highway system. Each building features nine stories and is LEED Gold-certified.

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