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News release

BOSTON, MA

Gulf Oil Leases 36,000 Square Feet at 80 William Street in Wellesley

JLL represents tenant on relocation of headquarters from Framingham


BOSTON, MA – (March 14, 2016) – Gulf Oil, LP, a leading distributor of quality motor fuels, has signed a lease agreement with John Hancock Real Estate for 36,000 square feet of state-of-the-art office space at 80 William Street in Wellesley, MA. Gulf Oil, who is relocating its headquarters from Framingham, will take occupancy of its new space this March. Tom Kent, Executive Vice President and Brendan Cohn, Senior Vice President, of JLL represented Gulf Oil in the lease transaction.

“We are excited about the opportunity this new space presents to accommodate our company’s continued growth,” said Jerry Ashcroft, President and CEO of Gulf. “We were drawn to this area because of its proximity to critical arteries and the abundance of nearby amenities. We’re confident this space is the perfect location for Gulf’s headquarters now and into the future.”

According to JLL Executive Vice President Tom Kent: “80 William Street is ideally situated in one of the area’s most desirable suburban markets, further enhancing its benefits as a company recruitment tool as well as offering premier visibility opportunities, allowing Gulf to increase its brand presence in the market.”

Gulf Oil’s relocation to Wellesley comes on the heels of the announcement that the company had been sold by Cumberland Farms, Inc. to ArcLight Capital Partners at the end of 2015. ArcLight, which specializes in energy businesses, has invested $13 billion in companies since its inception in 2001.

About Gulf Oil, LP
Gulf Oil, LP is a leading distributor of quality motor fuels, both gasoline and diesel, to over 2,300 branded outlets as well as 1,000 private label retail outlets operated by major chain retailers. Gulf Oil, LP owns and operates 12 proprietary terminals as well as supplies wholesale product through 75 other terminals in its 32 state footprint. More information about Gulf Oil, LP can be found at http://gulfoil.com.

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. 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.