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News release

ATLANTA, GA

JLL Awarded Leasing Assignments for 3.2 Million Square Feet of Metro Atlanta Office Space

Assignments include Peachtree Center in downtown, Satellite Place in Northeast Atlanta and Deerfield Corporate Centre in North Fulton


ATLANTA, Dec. 22, 2014  – JLL today announced it has been awarded exclusive leasing assignments for three well-known office properties totaling about 3.2 million square feet in metro Atlanta. The properties include the iconic six-tower, 2.4 million-square-foot Peachtree Center in downtown Atlanta; the four-building, 558,617-square-foot Satellite Place in Duluth; and the two-building, 266,054-square-foot Deerfield Corporate Centre in Alpharetta.

JLL received the assignments from Banyan Street Capital, which has had a long-standing ownership interest in Peachtree Center, and, in a partnership with Oaktree Capital Management, recently closed on the acquisitions of Satellite Place and Deerfield Corporate Centre.

Crucial to the leasing teams of the properties will be the new hire of Michael Werner joining JLL from Parkway Realty Services, where he was responsible for the leasing of Peachtree Center, as well as other high-profile Atlanta office properties. Werner is a Vice President in JLL’s Agency Leasing group.

Senior Vice President Kay Younglove, Werner and new hire David Horne, who has joined JLL as a Leasing Associate, will oversee the leasing of Peachtree Center, for which Banyan Street Capital recently secured approximately $35 million in financing to use for capital improvements and leasing costs at the property. Younglove also has experience leasing Peachtree Center, having leased the property in the late 1980s for architect and developer John Portman. Horne joins JLL from Parkway Realty Services.

Senior Vice President Glenn Aspinwall, a long-time Gwinnett County resident, and Werner will lease Satellite Place, while Younglove and Horne will handle the leasing of Deerfield Corporate Centre.

“David and I are pleased to be joining a team recognized as the strongest agency in the city, and to be able to continue to serve such a great client as Banyan Street,” Werner said.

Werner has 15 years of experience in commercial real estate; over the last seven years, he has completed more than 450 leases on behalf of landlords, for a total of more than 3.6 million square feet. Prior to his stint at Parkway, Werner worked at CBRE, where he was responsible for leasing and marketing office properties on behalf of third-party clients.

While at Parkway, Horne was responsible for the leasing of a portfolio of Class A Atlanta office assets that totaled more than 3 million square feet.

JLL begins the leasing assignments for Peachtree Center, Satellite Place and Deerfield Corporate Centre amidst an ever-improving Atlanta office market. Net absorption in the market totaled nearly 1.7 million square feet in the first three quarters of this year, according to JLL research.

For more news, videos and research resources on JLL, please visit JLL’s U.S. Media Center web page.

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 fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $53.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

About Banyan Street Capital
Banyan Street Capital is a private equity firm focused on acquiring and managing office properties directly or in joint ventures with institutional capital partners. With a concentrated presence in the Eastern United States, the company capitalizes on the team’s experience and expertise to remain at the forefront of today’s emerging economic growth and investment strategies.

Banyan Street Capital’s mission is to implement strategies that add value and deliver high risk-adjusted returns to its investors.