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News release

CLEVELAND, OH

Quanex Building Products and Gabriel Performance Products to Relocate

The Schipper Group and JLL Sign Two New Tenants in Akron’s AES Building


CLEVELAND, August 12, 2016 – JLL is pleased to announce that two new tenants signed leases at the AES Building, a redeveloped Class-A office and R&D complex at 388 South Main Street in downtown Akron. Houston-based building materials manufacturer Quanex Building Products signed a lease for 39,420 square feet on the seventh floor, and Ashtabula-based specialty chemical manufacturing company Gabriel Performance Products signed a lease for 6,055 square feet on the 3rd floor.

Both tenants sought to create a more open, collaborative environment in an amenity-rich setting in order to attract top talent and to showcase their unique products. The AES Building offers them a central location within walking distance to downtown Akron's many cultural and entertainment assets, with free parking and convenient access to Akron's central interchange. Both companies will also benefit from being in close proximity to the University of Akron as well as the Akron-Canton Airport. The recent development of quality residential living options downtown were also cited as attractive factors.

Quanex will be relocating its Insulating Glass division headquarters and R&D operations from Solon, Ohio.  Quanex IG Systems President George Wilson told JLL that it selected downtown Akron for its closer proximity to Cambridge, Ohio, where the division's main manufacturing facility resides. The new AES Building location will utilize much of the R&D space vacated by ExxonMobil Chemical and will include a large showroom in addition to its office, lab and product testing areas.

"We immediately gravitated toward the redeveloped post-industrial style of the AES Building," said Wilson. "The beautiful brick walls, exposed ceilings and concrete columns offer a unique ambiance which contributes to external branding and internal culture.  Our employees are really excited."

Gabriel CEO Seth Tomasch emphasized the growing significance of a strategic office location and style: "Our new office will have the conveniences of a suburban setting such as easy highway access and ample parking, along with the energy and amenities of an urban space. We expect immediate benefits in regards to employee recruiting and retention, innovation, and accessibility for customers and vendors."

Mayor Dan Horrigan is pleased with Akron's continued efforts to create an environment where both the executive and R&D business cultures can grow.

The Mayor stated, "We are excited to have both Quanex Building Materials and Gabriel Performance Products join us as businesses in downtown Akron.  To have both a high-level headquarter operations and a research and development center relocate downtown speaks volumes about how the City of Akron holds great promise for innovative companies. In conjunction with partner organizations like Summit County, Downtown Akron Partnership and the Greater Akron Chamber, we all strive to push Downtown Akron towards its fullest potential: A dynamic Akron neighborhood, meant for employment, residential living and entertainment."

Rick Rebadow, Executive Vice President of the Greater Akron Chamber added, "This is yet another great testimonial to the greater Akron region's strength in attracting R&D and related investment opportunities within its globally recognized polymer/chemical industries. We look forward to welcoming these two companies as part of our corporate landscape, and working with them in continuing to grow their operations."

The AES Building is owned and managed by The Schipper Group, and was represented by JLL Vice President Warren Blazy.

"We're thrilled to see two high-caliber companies relocate their offices to downtown Akron and experience all that this exciting urban location has to offer," said Blazy. "The building is unique, and Akron is a hot, up-and-coming market prime for employee retention and recruitment. With an affordable cost of living and an increase in new development, Akron is capturing interest from both business owners and young millennial talent."

For more information, visit www.jll.com/cleveland.

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 280 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 $59.1 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.​