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News release

ST. PETERSBURG, FL

JLL Secures Lease Renewal for Manning & Napier in Downtown St. Petersburg


ST. PETERSBURG, July 17, 2015 - JLL (NYSE: JLL) announces the renewal of investment management firm Manning & Napier’s 10,438-square-foot office lease in the Morgan Stanley Tower, a class A office building located at 150 Second Avenue North, in St. Petersburg’s Central Business District. 

JLL Vice Presidents Jimmy Ullrich and John Heald represented tenant Manning & Napier in the renewal transaction. Manning & Napier, a national firm that manages $43.1 billion in assets under management, will continue to occupy the ninth floor of the 187,538-square-foot Morgan Stanley Tower. The office building is owned by a joint venture consisting of affiliates of Feldman Equities, Tower Realty Partners and Second City Capital Partners.
 
“We are pleased to see Manning & Napier’s commitment to downtown St. Pete and all it has to offer its employees,” said JLL’s Jimmy Ullrich. “The downtown St. Pete market is experiencing a second renaissance. The area grew substantially during the nineties by catering to the Baby Boomer population with residential towers. Today, St. Pete is adding the junior executive housing and shopping components required to achieve the work-live-play environment that Millennials crave.” 

Among the key reasons Manning & Napier chose to remain in Morgan Stanley Tower are the bay views and immense amenities including adjacent Sundial St. Pete.  Furthermore, Feldman Equities is investing $3 million in Morgan Stanley Tower, including a comprehensive lobby renovation commissioned by Gensler. 

“From a regional perspective, Manning & Napier’s commitment demonstrates the strength in the financial services sector in the Tampa Bay market,” said JLL’s John Heald.  “8.3% of Tampa Bay’s employment base is in the financial services sector, a number that has increased by 1.4% in the past 12 months.”

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. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 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.