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JLL reveals the most expensive streets across the United States
WASHINGTON, Nov. 19, 2015 - It’s been said there are three things that matter in real estate: location, location, location, and JLL’s latest biennial study of the “Most Expensive Streets” across the United States emphatically substantiates the cliché.
Washington’s Pennsylvania Avenue comes in as number six on the list, with average office rents that are 99 percent higher than the average office rents in the Washington region overall.
“Pennsylvania Avenue is an iconic, internationally recognized address that evokes prestige and prominence,” said Amy Bowser, Managing Director, JLL. “It’s a symbol of power and influence and literally the connection between the White House and Capitol Hill.”The 10 streets on JLL’s 2015 list, ranked according to rent costs per square foot, include thriving thoroughfares from the most active markets around the country, some long-standing names to the list and others newer to their elite real estate status.“While trends in business and industry will introduce other streets to this list that carry weight for a period of time, Pennsylvania Avenue will continue to stand the test of time,” noted Bowser. “This reputation is part of the street’s identity and history not only within Washington, but within the country as a whole.”
The Top 10 Most Expensive StreetsAccording to JLL, rents on these 10 streets cost the most on a per-square-foot basis:
For full report findings, please visit http://www.us.jll.com/united-states/en-us/research/office/americas-most-expensive-streets.
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About JLLJLL (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.
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