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News release

Boston

Bulfinch Appoints Jones Lang LaSalle Exclusive Leasing Agent for New Charles Place Development in Harvard Square


BOSTON, March 18, 2010 – The Bulfinch Companies, Inc., a Needham-based real estate investment and development firm, today announced that it has appointed Jones Lang LaSalle as the exclusive leasing agent in connection with the development of Charles Place, 114-116 Mount Auburn Street, Cambridge, a new 70,000 square foot first class office and retail building in the heart of Harvard Square.

The development of Charles Place, a seven story LEED Certified Gold project, represents the first new office construction in Harvard Square in the past 20 years. Bulfinch has developed nearly 1 million square feet in Cambridge over the past several years and owns and manages several additional office and retail properties in Harvard Square, including Mount Auburn Place, located at 125 Mount Auburn Street which is leased to Harvard Law School and the US Postal Service. Bulfinch is currently under construction on additional development in Cambridge, namely Forrester Research’s 200,000-square-foot world headquarters at Cambridge Discovery Park.

The design concept for Charles Place, established by David Manfredi of Elkus Manferdi Architects, maximizes retail frontage along Mount Auburn Street. The new building will span over the existing MBTA substation, incorporating that structure into the overall structure. The exterior, derived from the context of Harvard Square, will be comprised of Harvard water-struck brick, a continuous granite base at the sidewalk, cast stone window surrounds with white aluminum frames and sheet metal copper siding.

At the base of the building along Mount Auburn Street, distinguishing two-story high bays are in-filled with clear finish mahogany fronts to enhance the retail presence. The entire façade along Mount Auburn Street up to the seventh floor is clad in cast stone to set the elevation apart from the mass of the building. These distinguishing features create a unique and eclectic building design.

Charles Place is adjacent to The Charles Hotel, and as such, tenants of the new building will have access to the catering services, conference rooms, business center, and parking garage of the Hotel. In addition, Charles Place is located near numerous retail and restaurant services, universities, public transportation, Memorial Drive, the Mass Pike and Storrow Drive.

“We are very excited to be part of this landmark project,” said Jones Lang LaSalle Senior Vice President Peter Bekarian. “Whenever you can talk about delivering a new building to a market like Harvard Square it’s special. This represents an extraordinary opportunity for companies that have interest in a world recognized address.”

Joining Peter on the leasing team is Jones Lang LaSalle’s Senior Vice President John Osten, and Associates Molly Heath and Emilie Gullans. Bulfinch’s development team includes: Elkus Manfredi Architects, and John Moriarty & Associates, Inc.

Bulfinch CEO Eric Schlager stated: “We look forward to working with the Jones Lang LaSalle team to achieve 100 percent occupancy at Charles Place. The design of this new building, in connection with a LEED Certified Gold designation, is a unique combination of classic Harvard Square architecture and environmentally-forward construction that users will find highly desirable.”

About The Bulfinch Companies, Inc.
Bulfinch is an entrepreneurial, value-added real estate investment firm specializing in the development, acquisition, management, and repositioning of commercial properties in greater Boston. Since its inception in 1936, Bulfinch has developed, acquired and repositioned in excess of $1 Billion in commercial real estate. For further information, please visit www.bulfinch.com

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 2009 global revenue of $2.5 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 1.4 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 more than $40 billion of assets under management. For further information, please visit www.joneslanglasalle.com