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News release

Chicago

Jones Lang LaSalle Leases 43,300 Square Feet at Metropolitan Square in St. Louis

New Long-term Leases Indicate Robust Occupancy in Class-A Building


CHICAGO, April 19, 2010 — Jones Lang LaSalle announced today that it has leased 43,300 square feet at One Metropolitan Square in the downtown St. Louis market. The new leases indicate a continued interest in this Class A high-rise property located centrally within the city’s business district.

Jones Lang LaSalle’s Carrie Herrmann, Vice President, represented building owner Gotham Realty in the transactions. Jones Lang LaSalle is the primary leasing and managing agent of the building.

Law firm Brown & Crouppen, relocating from its prior location within the Laclede Gas Building to 25,000 square feet at Metropolitan Square, selected Metropolitan Square because of the building’s amenities, prestige, and high-end office space. David Bialas of Grubb & Ellis | Gundaker Commercial represented the tenant.

The nation’s largest labor and employment firm, Littler Mendelson, signed a lease for 9,300 square feet at Metropolitan Square to serve as its new St. Louis location.  Littler Mendelson opened its St. Louis office almost two and a half years ago, choosing the downtown area in order to better service it clients throughout the St. Louis and Southern Illinois regions. One Metropolitan Square was the logical choice since it is a premier downtown office space. Littler Mendelson was represented by Andrew Bagy of Grubb & Ellis | Gundaker Commercial.

National civil engineering firm HNTB is relocating its St. Louis office from 10 S. Broadway to 9,000 square feet at Metropolitan Square based on its need for more space and amenities. David Bialas and Andrew Bagy of Grubb & Ellis | Gundaker Commercial represented the tenant.

“Metropolitan Square has always been a premiere property within the St. Louis CBD and has historically attracted firms that look for exceptional visibility, strategic locations, and high-end amenities,” said Ms. Herrmann. “Even despite a downturn that has left the downtown market with an overall vacancy rate of 18.6 percent in the first quarter of 2010, well-managed and maintained properties continue to attract credit-worthy tenants.”

“As tenants look for location options, the stability of the building ownership is a very important factor.  Clearly, the financial strength of this ownership group helped land these deals,” said Ms. Herrmann.

One Metropolitan Square, the tallest building in St. Louis, was constructed in 1989 and features 1.04 million square feet of office and retail space. Prominent tenants include architecture firm Hellmuth, Obata and Kassabaum, which also designed the building, the Bryan Cave law firm, the RCGA and the Sonnenschein law firm.
 
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 1.6 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with approximately $40 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.