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News release

New York

Jones Lang LaSalle Inks 25,346-SF Relocation for Noven Pharmaceuticals to Empire State Building

Pharmaceutical firm to occupy entire 37th floor at historic Manhattan tower


NEW YORK, June 8, 2010 — Jones Lang LaSalle has completed a 25,346-square-foot direct lease for Noven Pharmaceuticals at the Empire State Building, 350 Fifth Avenue. The pharmaceutical firm signed a 10-year lease for office space in the world-famous 2.8 million-square-foot Manhattan landmark.

The tenant was represented by James P. Quinn, managing director, Gary Youm, senior vice president, and Nina Marroccoli, project coordinator, all with Jones Lang LaSalle’s New York office. Building owner Malkin Holdings was represented by William Cohen & Ryan Kass of Newmark Knight Frank.

“Noven Pharmaceuticals sought new offices in a high-profile location for its expanding operations,” said Quinn. “Jones Lang LaSalle was able to secure a cost–effective transaction for Noven Pharmaceuticals for a full floor of office space in one of the most famous buildings in the world.”

Noven Pharmaceuticals signed for 25,346 square feet of office space and will occupy the entire 37th floor at Empire State Building, which is located between West 33rd and West 34th streets. The pharmaceutical firm is relocating to the landmark property from its existing premises at the Chrysler Building, 405 Lexington Avenue.

Neighboring tenants at the building include the Boy Scouts of America, Brennan Beer Gorman Architects, Capital Markets Group, Coty Inc., FDIC, Funaro & Co., P.C., Garan Inc., Goldin Associates LLC, Human Rights Watch, Juicy Couture (Liz Claiborne), Lufthansa Airlines, Skanska USA Building Inc., Taylor Communications and Worldwide Dreams LLC.

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.