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News release

BOSTON, MA

JLL Closes $31.1 Million Sale of 100 Quannapowitt Parkway in Suburban Boston

RJ Kelley Company purchases office building located directly off Route 128


BOSTON, October 15, 2015 – On behalf of Digital Realty Trust, JLL’s Capital Markets experts today announced the $31.1 million sale of 100 Quannapowitt Parkway, a Class A office building in Wakefield, MA. RJ Kelley Company purchased the 168,000-square-foot asset. The sale generated net proceeds of $29 million, and Digital Realty recognized a gain on the sale of approximately $10 million in the first quarter of 2015.

Managing Directors Frank Petz and Jessica Hughes, and Vice President Robert Borden led the JLL team on the transaction along with Analyst Charles Luce.

According to Petz, “This offering gave investors the unique opportunity to purchase a strategically located asset in the strong North market with 100% occupancy, stable contractual cash flows, and below market rents in-place providing upside potential.”

Located 13 miles north of Boston, 100 Quannapowitt is one-half mile from Route 128, two miles from the I-93 interchange, and adjacent to Lake Quannapowitt. The prime highway and commuter rail access easily connects tenants to the strong corporate workforce north of the city.

The building is part of 100 & 200 Quannapowitt Parkway, a 387,000-square-foot Class A office and technology center that combines modern, efficient office and flex space. The two buildings offer spectacular views of the lake, jogging trails, a cafeteria, fitness center, locker rooms, and a basketball court for employees.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.

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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.