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News release

New York

Jones Lang LaSalle Completes 26,275-SF Lease for Loeb Block at 505 Park Avenue

Law firm renews, expands and relocates within building; will now occupy entire seventh and eighth floors


NEW YORK, April 15, 2010 — Jones Lang LaSalle has completed a 26,275-square-foot renewal and expansion transaction for Loeb, Block & Partners LLP at 505 Park Avenue. The law firm signed a 12-year lease at the 219,000-square-foot, Class A office building.

The tenant was represented by Christopher Kraus, managing director, and Robert Taylor, senior vice president, both with the company's New York office. Building owner Glorious Sun (New York) Inc. was represented by David E. Green of Cushman & Wakefield Inc.

"This was a complex transaction that required more than two years to complete,” said Kraus. “Jones Lang LaSalle was able to work with the building ownership to relocate several tenants at 505 Park Avenue to open up two entire floors for Loeb Block. In addition, the law firm’s new space will be significantly enhanced prior to its relocation within the building.”

Loeb, Block & Partners will occupy the entire seventh and eighth floors at 505 Park Avenue, which is located between East 59th and East 60th streets. The law firm was previously located on the ninth floor and a portion of the eighth floor of the building.

Neighboring tenants at 505 Park Avenue include Healthpoint, Olayan Group, Pareto Partners, Pegasus Capital Advisors, Symrise Inc. and Torrey Funds.
 
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. In the New York area, Jones Lang LaSalle provides leasing and management services for nearly 45 million square feet of commercial real estate. For further information, please visit our Web site, www.joneslanglasalle.com.
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