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News release

SAN DIEGO, CA

Jones Lang LaSalle Closes $33M Sale of Medical Office Building

Limited medical property supply in the country’s top market attracts numerous investors


​SAN DIEGO, Feb. 19, 2014 — As the healthcare industry continues to see more mergers, acquisitions and consolidations, the demand for high-quality medical properties increases along with occupancy rates. On behalf of Kilroy Realty Corporation, Jones Lang LaSalle’s (JLL) Capital Markets and Healthcare Solutions experts today announced the sale of Pacific Medical Plaza. The buyer was a San Francisco-based investor with national holdings. JLL has also been retained for the building’s leasing and property management

Managing Directors Bob Prendergrast, Paul Braun, Chris Ross and Lynn LaChapelle led the JLL team on the transaction.

“There is limited supply and heightened demand for Class A medical office buildings, which is a trend we expect to continue,” said Prendergast. “Pacific Medical Plaza is an institutional quality asset with a strong cash flow in place.”

Added Braun, “The property is currently 100 percent leased with credit tenants, and is the gateway to the heart of the county’s most dynamic healthcare areas servicing three (3) major medical campuses. Its infrastructure and location allows it to host a diverse mix of healthcare providers.”

The three-story, 50,656 square-foot building is located in San Diego’s Golden Triangle submarket and in close proximity to the area’s top medical service providers. Major tenants of Pacific Medical Plaza include University of California San Diego – Health System, San Diego, Surgical Center of San Diego and Clear Choice Management Services.

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.

For more news, videos and research resources on Jones Lang LaSalle, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

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.