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News release

NEW YORK, NY

JLL Inks Lease for Uber at The Falchi Building in Long Island City, NY

Tech company signs 25,074-SF transaction at historic 680,000-SF office building


NEW YORK, October 13, 2015 — JLL has completed a new, direct transaction for Uber Technologies Inc. at The Falchi Building, 31-00 47th Avenue in Long Island City, N.Y., with building owner Jamestown Properties. The San Francisco, California-based technology company, which seamlessly connects riders to drivers, inked a lease for 25,074 square feet at the historic 680,000-square-foot, mixed-use building.

Uber was represented by Alexander Chudnoff, vice chairman; Dan Turkewitz, senior vice president; and Brittany Wunsch, vice president, all with JLL. Building owner Jamestown Properties was represented by Mitchell Arkin, executive director; Kelli Berke and Haley Fisher, directors; and Michael Blanchard, associate, all with Cushman & Wakefield Inc., along with Greg Smith, president, with JRT Realty Group Inc.

“Uber has experienced tremendous growth of its business in the New York metropolitan area,” said Chudnoff. “The Falchi Building was ideal for the company, offering one of the most flexible layouts in Long Island City and the most advance infrastructure in the area.”

Uber signed a 10-year lease for 25,074 square feet of office space and will occupy a portion of the ground floor and a portion of the second floor of The Falchi Building.

The JLL team has represented Uber since 2012, when the trio completed the company’s first expansion. Uber had opened its first New York office in May 2011 with just three employees operating out of a co-working space in Brooklyn. In November 2012, Uber agreed to relocate and expand into approximately 3,500 square feet at 27-55 Jackson Avenue in Long Island City.

The five-story Falchi Building, 31-00 47th Avenue, is located between 31st Street and 31st Place in Long Island City, N.Y. It was originally constructed in 1922 as a warehouse and distribution facility for Gimbels, the now-defunct department store chain. In September 2013, Jamestown Properties launched a multi-million dollar capital improvement program that included renovations to the building’s façade and lobby. The owner repositioned the property as a hub for creative and technology companies, installing state-of-the-art technology and connectivity. Other notable tenants include Tourneau, Juice Press, a new co-working facility from Regus and the United Nations.

JLL is a leader in the New York tri-state commercial real estate market, with more than 2,000 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2014, the New York tri-state team completed approximately 22.8 million square feet of lease transactions, arranged investment sales transactions valued at more than $5.4 billion, managed projects valued at $7.6 billion, and oversaw a property management, facilities management and agency leasing portfolio exceeding 163 million square feet.

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 $56.0 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.