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News release

MONTGOMERY, AL

JLL Completes Sale of Bishop-Parker Building in Montgomery

JLL’s Carter Burwell represented Bishop-Parker Furniture Co. in sale to Ascent Hospitality


Montgomery, Ala. May 11, 2016 – JLL has completed the sale of the 80,000-square-foot Bishop-Parker Building in the Central Business District of Montgomery, Ala.

Carter Burwell from JLL represented Bishop-Parker Furniture Co. Inc. on the sale of the property to Ascent Hospitality, a Georgia-based company that plans to redevelop the four-story building into a hotel.

Located at 152 Coosa Street and built in 1907, the Bishop-Parker Building is located directly across from Riverwalk Stadium and within walking distance to the Renaissance Montgomery Hotel and Convention Center, the Alley Entertainment District, the Riverwalk Amphitheatre and City Hall. The property is one of the crown jewels of the Riverfront and is in excellent condition.

“The Bishop-Parker Building is a significant redevelopment opportunity, and we are excited about what this transaction means for Downtown Montgomery,” said Carter Burwell, JLL Vice President.

Due to the sale, Bishop-Parker plans to relocate its downtown store, and its main location at McGhee Road will not be affected. Mark Dauber of John Stanley & Associates represented the buyer. Terms of the sale were not disclosed.

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 $5.2 billion and gross revenue of $6.0 billion, JLL has more than 230 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $56.4 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.