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News release

CLEVELAND

Top Quality Amenities Spur Sale of Suburban Cleveland Office Pair

JLL completes $24.5 million sale of One & Two Chagrin Highlands


​On behalf of Chagrin Headquarters Venture Ltd and Chagrin Office Two, Ltd., JLL today announced the firm completed the sale of One & Two Chagrin Highlands in the Cleveland suburb of Beachwood, Ohio. Shelbourne Global purchased the two four-story, Class A office buildings for $24.5 million.

Managing Directors Rob Roe, James Postweiler and Peter Harwood led the JLL team on the deal.

"These are two exceptional Class A assets in the coveted East office submarket that allowed the buyer to gain immediate scale," said Roe. "The buildings boast a high-quality roster of tenants, a great location and an overall top of market asset quality. We're thrilled to help make this deal happen."

Totalling a combined 224,988 square feet, the two Chagrin Highlands are among the best of Cleveland's suburban office market. Property amenities include underground parking garages, a conference room at each building that can accommodate groups of up to 25 and 50, respectively, a cafeteria style restaurant and an adjacent food preparation facility for catering. The Property also features a modern technological infrastructure, meticulously maintained landscaping and efficient floorplates. The buildings are located directly adjacent to the heavily travelled I-271 corridor.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more information on JLL's Cleveland office, visit www.jll.com/cleveland.

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.