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News release

MINNEAPOLIS, MN

Onward Investors and Castlelake Names JLL Exclusive Leasing and Management Firm for Class A Bloomington, MN Office/Showroom Building


Minneapolis, MN (April 21, 2014)—In conjunction with their acquisition of the Hampshire Technology Center, Onward Investors and Castlelake have named JLL as the exclusive property leasing and management team for the Class A office and showroom property located at 10900 Hampshire Avenue in Bloomington, Minnesota.  Onward Investors partnered with Castlelake, a global institutional alternative investment firm, in the recent acquisition of the 144,441 square-foot, single-story complex from Hines.

Hampshire Technology Center offers one of the largest contiguous blocks of space available in the suburban Minneapolis market. According to Chris Hickok, CCIM, Executive Vice President, JLL, who is leading the leasing effort, the available 114,000-square-foot space is ideally suited for a company seeking a corporate headquarters or back office needs.

“We believe there is a great opportunity here to attract corporate users who are looking for Class A quality, well-located space in the suburban Minneapolis marketplace,” Hickok said. “This space, impeccably maintained by the original developer, is a convenient alternative to other spaces in the twin cities and suburban markets.”

Hickok noted that included in the building is a 3,000-square-foot, raised-floor data center that provides redundant power and fiber capabilities. Additional features and amenities that contribute to creating an overall professional work place experience include, Class A interior finishes, considerable glass line and skylights, 10’ to 12’ high finished ceilings and extensive landscaping. The building also features 682 parking spaces.

Joining Hickok on the leasing team are Dan Terry, Vice President, and Brent Robertson, Vice President. JLL will also be providing property management services led by Todd Balsiger, General Manager.

Onward Investors is a real estate investment and management firm based in Minneapolis. The firm, established in 2011, owns and manages a portfolio of assets valued at more than $100 million. The company’s strategy is to acquire distressed assets and create value through the renovation, repositioning and/or re-tenanting of the individual asset. The principals of the firm have a combined 125 years of commercial real estate ownership, management, development and marketing experience.

Castlelake, formerly TPG Credit, is a global institutional alternative investment firm focused on deep value, asset rich investment opportunities.  Founded in 2005, Castlelake today has $3.6 billion in assets under management comprised of commitments from endowments and foundations, public and private pension plans and family offices worldwide.  The firm and its affiliates have a total of 59 professionals with offices in Minneapolis and London.

About JLL
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 $4.0 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 3.0 billion square feet. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.com.