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News release

PHOENIX, AZ

JLL Earns Exclusive Leasing Assignment for The Esplanade Office Towers

Joins with project owner MetLife on property-wide leasing and renovation plan


PHOENIX, May 6, 2014 – After an extensive vetting process, the Phoenix office of JLL has been selected as the exclusive leasing agent for the four Class A office towers at The Esplanade, a 1-million-square-foot landmark mixed-use project located at 24th Street and Camelback Road, in the heart of Phoenix’s prestigious Camelback Corridor.

JLL Managing Director John Bonnell and JLL Vice Presidents Brett Abramson and Greg McMillan will direct all office leasing efforts for The Esplanade’s 10- and 11-story, Class A office towers. The buildings were constructed between 1989 and 2002, and represent a total 906,459 square feet of space at 2425, 2525, 2575 and 2555 E. Camelback Rd. Each tower features high-end finishes, panoramic views of Camelback Mountain and Piestewa Peak, private balconies, 24-hour security, on-site conference and fitness facilities, concierge and abundant covered parking.

JLL is also working with property owner by MetLife, Inc. as it implements extensive, project-wide renovations that are delivering new building lobbies, new corridors, an upgraded amenity package and new speculative office suites.

“The Esplanade represents some of the Valley’s nicest office space in an equally premier location. It is one of those iconic projects that checks virtually every box on the tenant and employee wish list,” said Bonnell. “It also has an owner that recognizes the value of these advantages, and will make the investment necessary to ensure The Esplanade remains a market leader for the long term.”

In addition to its office towers, The Esplanade includes a first-floor retail component, fine and casual dining, a 14-screen AMC Theatre, a 291-room Ritz Carlton Hotel, and a pedestrian-friendly design that links the project to neighboring Biltmore Fashion Park, one of the metro area’s most upscale shopping and dining environments.

The Esplanade is within one mile of Piestewa Freeway/State Route 51 and minutes from the Valley’s Loop freeway system, Interstate 10, Downtown Phoenix and Sky Harbor International Airport.

These factors combined to rank Camelback Road as #34 on JLL’s list of Most Expensive U.S. Streets for Office Space in 2013—an overview of the nation’s most premier, in-demand submarkets for office space.

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

About MetLife, Inc.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is a leading global provider of insurance, annuities and employment benefit programs. MetLife holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

About JLL
JLL (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 billion, JLL operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management.

In Phoenix, JLL is a market leader employing nearly 500 of the region’s most recognized industry experts offering office, industrial and retail brokerage, tenant representation, facility and investment management, capital markets and development services. In 2013, the Phoenix team completed 10.3 million square feet in lease transactions valued at $512 million, directed $72 million in project management and currently leases and/or manages a 22.8 million-square-foot portfolio. For more news, videos and research resources on Jones Lang LaSalle, please visit www.jll.com or www.jll.com/phoenix.