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News release

Boston

Jones Lang LaSalle’s Sells 399 Washington St. Site in Woburn


BOSTON, MA, February 18, 2010 - Jones Lang LaSalle has negotiated the sale of 399 Washington Street, a 5.6 acre redevelopment site on Route 128 in Woburn, MA. The property was sold to Nai Nan Ko by Argonaut Holdings.

Jones Lang LaSalle’s Managing Director of Retail Sales Jim Koury and Assistant Vice President Nathaniel Heald exclusively represented the seller and procured the buyer.
 
The property is strategically located at Exit 36 adjacent to the intersection of Route 128 and Interstate 93. It was formerly occupied by Lannan Buick Pontiac.

According to Jones Lang LaSalle’s Koury: “Argonaut took advantage of the strengthening market to realize aggressive pricing for the property. The transaction was also very beneficial for the buyer, who secured a long term location at the intersection of two interstate highways.”
 
About Jones Lang LaSalle
Jones Lang LaSalle Capital Markets is comprised of a range of corporate finance experts and real estate investment capital specialists, working on all property types and in all the major national markets on behalf of corporations, major institutional and local investors and developers. The firm's Capital Markets professionals are highly skilled at pinpointing and tailoring the right capital solutions for each of these client's needs. The Corporate Capital Markets professionals help corporations develop and execute strategies that bridge their occupancy, capital deployment and financial reporting objectives for their facility portfolios.
 
The Investment Sales teams assist investors in developing and executing asset recapitalization strategies for office, industrial, retail, multifamily, healthcare and seniors housing product. The firm’s Real Estate Investment Banking experts raise debt and joint venture equity for investors and developers, and provide secondary loan sale advisory services.

Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.4 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and
most diverse in real estate with more than $40 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.