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News release

New York

Jones Lang LaSalle Subleases 30,000 SF at 101 Ludlow Street to The Kings College for School of Visual Arts

Students from The Kings College to occupy the 14th through 19th floors at the dormitory


NEW YORK, May 14, 2010 — Jones Lang LaSalle has completed a 30,000-square-foot sublease transaction for the School of Visual Arts at 101 Ludlow Street. The Kings College signed a two-year sublease with the SVA for the space at the 100,000-square-foot student housing facility.

Sublandlord SVA was represented by John Gibb, managing director with Jones Lang LaSalle’s Washington office, James Wenk, senior vice president with the company’s New York office, and Patricia Restrepo, vice president with its Washington office. The Kings College, the subtenant, was represented in-house.

“Having worked with the School of Visual Arts for about 10 years, we knew the school was looking to sublease a substantial portion of its new state-of-the-art dormitory,” said Gibb. “We were also aware that The Kings College was in need of additional student housing, and we were able to bring the two schools together to complete the transaction.”

The Kings College will occupy the 14th floor through the 19th floor at 101 Ludlow Street. Students from The Kings College will share the newly constructed dormitory with students from the School of Visual Arts and Baruch College.

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. 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.