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Philadelphia

Jones Lang LaSalle Adds Institutional Investment Sales Expert Jerome Kranzel

Firms Adds Second Dedicated Capital Markets Resource to Philly Team in Three Months


PHILADELPHIA, Jan. 7, 2009 – Jones Lang LaSalle today announced the addition of Jerome Kranzel, Senior Vice President of firm’s capital markets team in Philadelphia. Mr. Kranzel is the second dedicated institutional investment sales expert Jones Lang LaSalle has added to its Philadelphia, Pennsylvania bench in the past three months.
 
“Philly is a growth market for our capital markets business and a market where we feel opportunities will surface in 2009, as investor interest continues and the market’s fundamentals hold stronger than neighboring areas,” said Tom Beneville, Managing Director of firm’s Philadelphia and New York markets.  “In October, we dedicated Brett Grifo to growing our Philadelphia market presence. Now, we’ve doubled our depth with the addition of Jerry Kranzel, who will be our on-the-ground market leader. Jerry and Brett will partner to expand Jones Lang LaSalle in the market and provide top quality investment sales and advisory services to current and prospective clients.  We’re pleased to welcome Jerry as he brings an exceptional background of local expertise and client service excellence to the team,” added Beneville.
Jones Lang LaSalle holds a leadership position in the Philadelphia market.  The firm’s investment sales business closed more than $600 million of local office sales in the past three years. Jones Lang LaSalle’s Managing Director Mike McCurdy aims to grow the firm’s overall market share in the Greater Philadelphia area. 
“Pulling in a heavyweight investment sales leader like Jerry is a testament to the momentum we’re building in the market,” said McCurdy. “We’ve assembled an unbeatable arsenal of talent in every aspect of commercial real estate services. Jerry will round out our capabilities and strengthen our client service in the capital markets arena.”
Under Tom Beneville’s leadership Jones Lang LaSalle has been the top sales broker of office towers in Philadelphia’s Central Business District in recent years.
“I believe that with Tom, Brett and myself operating as a team we can rapidly pick up significant market share,” said Mr. Kranzel.   “We can augment and perpetuate what Tom has accomplished in Center City while dramatically increasing Jones Lang LaSalle’s market presence in suburban office, retail, industrial and multifamily investment sales throughout Pennsylvania, New Jersey and Delaware.”
Mr. Kranzel holds 20 years of institutional investment sales experience in the greater Philadelphia and Delaware markets to Jones Lang LaSalle. He most recently served as a Senior Director at a national brokerage firm where Jerry was instrumental in completing more than two billion dollars in investment sales over the last five years. Mr. Kranzel received his Bachelor of Arts degree from the University of Pennsylvania. Mr. Kranzel is a member of the Urban Land Institute and the International Council of Shopping Centers.
He joins a strong local team given Jones Lang LaSalle has been a prominent member of Philadelphia’s real estate market since 1997.  With nearly 300 employees, the office currently manages two million square feet and leases more than three million square feet of prime office space throughout the Philadelphia metro area. 
Jones Lang LaSalle Capital Markets is composed of a broad range of real estate investment debt and equity specialists, and corporate finance experts, working on all property types and in all the major national markets on behalf of major institutional and local investors and developers, as well as corporations.  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 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.  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.  Collectively, the firm's Capital Markets team handled $82 billion in annual transaction volume in 2007.
About Jones Lang LaSalle
 
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 2007 global revenue of $2.7 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 1.2 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 $53 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.
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