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News release

ATLANTA

Panattoni Kicks Off 1.55 Million Sq. Ft. Development at Lambert Farms

JLL Represents Landlord in Pre-lease of 1MM SF and Speculative 550K SF


ATLANTA, August 2, 2017  – Panattoni Development Company, Inc. announced that it has commenced construction on an additional 1.55 million square feet of space at its Lambert Farms Logistics Park in Henry County, south of Atlanta.

One million square feet of the space has been pre-leased to an international consumer brand. The additional 550,000 square feet is being developed as speculative space. A JLL team led by Executive Vice President Wit Truitt, Senior Vice President Chris Tomasulo and Vice President Reed Davis represented the ownership entity in the lease negotiations and currently is marketing the spec portion of the project.

Panattoni started construction on the development in June and expects to complete it in the second quarter of 2018.

"Lambert Farms continues to attract interest from blue-chip companies, and Panattoni is pleased to be expanding the project once again," said Dayne Pryor, Partner at Panattoni. "The large lease and additional spec development is a testament to Lambert Farms' and Henry County's position as a preferred location for major logistics facilities."

In 2016, upscale retailer Tory Burch leased a 753,000-square-foot distribution center at Lambert Farms. Expected to be operational later this year, the distribution center is projected to create more than150 new jobs.

"This latest lease continues the momentum Panattoni has created at Lambert Farms," Truitt said. "Corporate America really likes the development's location as an ideal spot for both distribution and e-commerce users."

According to Truitt, metro Atlanta's superior logistics location, proximity to the UPS and FedEx hubs in the region, and the access to the Georgia Ports Authority import centers in Savannah, are some of the key drivers for the success of Lambert Farms.

About Panattoni

Founded in 1986, Panattoni Development Company, Inc. is one of the largest privately held, full-service development companies in the world. Panattoni operates from 24 offices in the United States, Canada and Europe. Since inception, Panattoni has developed more than 266 million square feet of space including more than 88 million square feet of build-to-suit projects. www.Panattoni.com

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