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News release

HAMPTON ROADS, VA

JLL Retained to Lease 880 North Military Highway in Norfolk

Movement Mortgage recently leased 90,000 SF in building owned by Norfolk Economic Development Authority


Hampton Roads, VA, September 7, 2016 – JLL (NYSE: JLL) announced today that is has been retained to lease 880 North Military Highway in Norfolk, VA. Located at Military Mall Circle, the Norfolk Economic Development Authority (EDA) purchased the property in 2015 and is redeveloping it for office occupancy.

Movement Mortgage recently signed a lease to relocate and expand its operations center at the building taking 90,000 square feet. The mortgage company will move to Norfolk in Q1 2017.

The 880 building is at the vanguard of a new vision for the future revitalization of the Military Highway area. Norfolk is looking at ways to transform the Military Circle and Military Highway area into a vibrant, walkable new urban center. The recent announcements of Virginia's second IKEA location and Norfolk Simon Premium Outlet Center with ninety new stores to be located nearby will drive traffic to the area. The city has identified potential to extend light rail service to the areas and support mixed-use along Military Highway for greater density.

"Movement Mortgage shares the excitement we have for this location," said Chuck Rigney, Assistant Executive Director for the Norfolk Economic Development Authority. "We are confident the building will be a showcase where innovative companies will grow and their employees will love the location."

There is approximately 100,000 square feet of office space available on the second floor of 880 North Military Highway which can be divided into 25,000-square-foot increments. The property has over 1,400 parking spaces available for its tenants.

"JLL is thrilled to work with the EDA on this project," said Deborah Stearns, Senior Vice President, JLL. "More and more office prospects are seeking large floor plans that complement higher density operations. The central location of 880, offering access to I-64 and I-264, makes this a highly desirable regional office destination. It is exciting to be part of this dynamic development." 

JLL Senior Vice President Deborah Stearns and Vice President Gregg Christoffersen are leading the JLL team leasing 800 North Military Highway.

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.