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News release

HOUSTON

JLL negotiates 140,695-square-foot industrial lease in northwest Houston

LSI Industries Inc. extends lease at Prologis Park - West by Northwest


HOUSTON, July 10, 2017 – On behalf of LSI Industries Inc., JLL today announced the firm has negotiated a 140,695-square-foot industrial renewal at Prologis Park – West by Northwest, 14902 Sommermeyer Street in Houston, Texas.

JLL's Jeff Venghaus negotiated the terms on behalf of the tenant. Kevin Wittler of Prologis represented the landlord.

Founded in 1976, LSI Industries is a leading manufacturer of LED lighting solutions. The Cincinnati, Ohio-based company has facilities in Kansas, Kentucky, New York, North Carolina, Oregon and Rhode Island as well as Ohio and Texas.

"The strategic location and existing improvements are the best features of this property," said Venghaus. "Its position is close to existing labor pools and main transportation corridors. The space continues to serve the business operations of LSI Industries Inc. very well."

Built in 1983, 14902 Sommermeyer Street is a 264,461-square-foot industrial building and was the second of 26 buildings constructed within Prologis' West by Northwest industrial park. Features of the building include front-load dock configuration, ample parking, 24-foot clear heights, and immediate access to Beltway 8 and Highway 290.

According to JLL research, the northwest continues to be one of Houston's top performing industrial submarkets, recording 996,628 square feet of positive net absorption in the first half of 2017. On a whole, Houston's industrial market remains healthy, with an overall vacancy rate of just 5.1 percent.

For more news, videos and research resources on JLL, please visit the firm's U.S. media center Web page: http://bit.ly/18P2tkv.

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 the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0 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.