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News release

NEW YORK

JLL Secures 1251 Avenue of the Americas’ Top Floor for Berenberg

World’s second-oldest bank takes 31,700 square feet at Class A, 2.1 million-square-foot office tower


NEW YORK, March 21, 2017JLL completed a new transaction for Berenberg Capital Markets LLC, a wholly owned subsidiary of German bank Berenberg, at 1251 Avenue of the Americas with building owner Mitsui Fudosan America Inc. Berenberg, the world's second-oldest bank established in 1590, inked a 10-year lease for 31,700 square feet at the Class A, 2.1 million-square-foot office building.

Berenberg Capital Markets was represented by Mitchell Konsker and Alexander Chudnoff, vice chairmen, and Benjamin Bass, vice president, all with JLL. The building owner was represented by David Falk, president of the New York tri-state region, and Peter Shimkin, executive managing director, with Newmark Grubb Knight Frank.

"Berenberg Capital Markets sought to expand its business and footprint in Manhattan, and there was no better location for the company than 1251 Avenue of the Americas," said Chudnoff. "The bank was attracted to the office tower for its prestigious address and location as well as the uniqueness of the space."

"Berenberg Capital Markets' new offices on the top floor provide 15-foot ceilings, and incredible natural light and views in all directions," added Bass.

Berenberg Capital Markets signed a 10-year lease for 31,700 square feet of office space and will occupy the entire 53rd floor at 1251 Avenue of the Americas, which is located on Sixth Avenue between West 49th and West 50th streets. The bank is relocating to the building from 712 Fifth Avenue.

"Berenberg opened its first branch in the United States in 1883, and for more than five years, the bank has been offering investment banking and asset management services to its ever-expanding client base in the U.S.," said Dave Mortlock, member of Berenberg's Extended Management Board. "We are glad to grow our business in New York and look forward to moving into our new offices."

The 54-story 1251 Avenue of the Americas was designed by Harrison, Abramovitz & Harris and completed in 1971. The building occupies a prime location on Sixth Avenue, in the heart of Midtown Manhattan. As part of Rockefeller Center, the magnificent, limestone-clad tower is one of the premier office buildings in the city. The building features virtually column-free floor plates, floor-to-ceiling windows, a highly efficient window module design and state-of-the-art life safety systems. Mitsui Fudosan America enhanced the property's infrastructure to meet U.S. Green Building Council standards for Leadership in Energy and Environmental Design and was awarded Silver Certification for Existing Building Operations and Maintenance.

About Berenberg

Founded in 1590, Berenberg is one of Europe's leading privately owned banks today, offering services in the divisions of Wealth Management, Investment Banking, Asset Management, and Corporate Banking. Headquartered in Hamburg and led by personally liable managing partners, Berenberg maintains a strong presence in the financial centers of London, Zurich, New York and Frankfurt, and has a total of 16 offices in Europe and the United States. . More than 1,500 employees carry the bank's long tradition of success into the future.

JLL is a leader in the New York tri-state commercial real estate market, with more than 2,300 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2015, the New York tri-state team completed approximately 32.6 million square feet of lease transactions; arranged investment sales, notes, debt and equity transactions valued at more than $8.2 billion; managed projects valued at $7.8 billion; and oversaw a property management, facilities management and agency leasing portfolio exceeding 141 million square feet.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At year-end 2016, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 77,000. As of December 31, 2016, LaSalle Investment Management has $60.1 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.​