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News release

New York, NY

JLL Secures Knotel for Ownership of 6 West 48th Street in New York

Flexible workspace provider leases 23,800 square feet; will occupy entire 2nd floor through 4th floor, along with 12th floor & penthouse at boutique office building


​NEW YORK, June 20, 2018 — JLL has completed a new transaction for 6 West 48th LLC with Knotel, the company transforming the office market with its Agile HQ™ Platform, at 6 West 48th Street. The flexible workspace provider signed a lease for 23,500 square feet at the Class A, 12-story office building.

The building owner was represented by Amanda Bokman, managing director, and Lloyd Desatnick, senior vice president, both with JLL. Knotel was represented by Elie Reiss, founder, of Skylight Leasing.

"This boutique office building was an ideal location for Knotel," said Bokman. "The surrounding neighborhood is home to an increasingly diverse roster of companies seeking collaborative work spaces in proximity to Grand Central Terminal, Port Authority, Penn Station and other mass transportation options. The building's proximity to Rockefeller Plaza also provides a fantastic amenity."

Knotel inked a 10-year lease for 23,800 square feet and will occupy the second through fourth floors, as well as the 12th floor and penthouse at 6 West 48th Street. The flexible workspace provider is opening a new location in Manhattan at the building.

The 12-story 6 West 48th Street, located between Fifth Avenue and Rockefeller Plaza, was designed by H.P. Knowles and constructed in 1919, boasting a timeless, recently renovated lobby. The office building has approximately 5,600 square feet of pre-built space available on the fifth floor, with an additional 16,800 square feet of office space on the sixth through eighth floors becoming available in the fourth quarter of 2018.

All available floors offer natural light on three sides of the building as well as exposed ceilings, newly renovated bathrooms and kitchen areas, and glass-fronted offices and conference rooms. The pre-built unit on the fifth floor also features polished concrete floors and ceiling hung air-conditioning units to maximize the usable area of the floor.

JLL is a leader in the New York tri-state commercial real estate market, with more than 2,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2017, the New York tri-state team completed approximately 40.9 million square feet of lease transactions; arranged investment sales, notes, debt and equity transactions valued at more than $1.6 billion; managed projects valued at $7.9 billion; and oversaw a property management, facilities management and agency leasing portfolio exceeding 147.8 million square feet.

About Knotel

Knotel is transforming the office market with its Agile HQ™ solutions. Making long-term leases a thing of the past, Knotel designs, builds, and operates custom spaces for established and growing brands, so they can be free to grow their businesses at will, and build what's never been built. Named a Business Insider Top 50 Startup and New York's Hottest New Workspace Model, Knotel has around 50 locations across over 1 million square feet in New York, San Francisco, and London. Founded in 2016, Knotel has raised over $95 million in funding. Knotel's member network includes companies like Starbucks, Cheddar, Stash, and King. Visit www.knotel.com.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.