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News release

DALLAS, TX

JLL Negotiates 415,000-Square-Foot Renewal on Behalf of Standard Motor Products


DALLAS, November 4, 2015 – JLL today announced the firm negotiated the renewal of a 415,000-square-foot industrial lease at 1801 Waters Ridge in Lewisville, Texas, on behalf of Standard Motor Products (SMP).  The property is 100 percent occupied by SMP and operates as a corporate headquarters and central distribution hub for surrounding markets.  

JLL’s Managing Director Tom McCarthy, Vice President Forshey Hoobler and Associate Elizabeth Jones represented the tenant.  CBRE’s Steve Trese and Wilson Brown represented the landlord, TIAA. 

According to JLL research, demand for space in the third quarter remained strong with 2.4 million square feet of net absorption. 
“The industrial market is beginning to shift toward equilibrium between our supply and demand,” said Hoobler.  “And, while that might cause an uptick in asking rents for the immediate future, I expect that rents will remain relatively flat over the next consecutive quarters.”

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 $57.2 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.