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News release


Jones Lang LaSalle Closes $31M Acquisition of Class A Office and Distribution Facility in Indianapolis Submarket

Brightpoint purchases key facility in supply chain network from Prologis

INDIANAPOLIS, IN, DEC. 22, 2009 — In a key example of a new trend of corporate tenants capitalizing on opportunities to buy leased space, Jones Lang LaSalle announced today that it has closed the acquisition of a Class A office and distribution facility for Brightpoint North America.  Brightpoint purchased the 495,740-square-foot facility for $31 million from Prologis.  The Brightpoint facility, located at 501 Airtech Parkway in Plainfield, Indiana, was built-to-suit for the wireless distributor and is a key facility in its supply chain network.

Leading the Jones Lang LaSalle team on this assignment were Senior Vice President Michael Corr and Capital Markets Group President Jay Koster.

“We’re starting to see more opportunistic tenants such as Brightpoint capitalizing on cyclically low real estate values to re-optimize their warehouse/distribution operations and supply chain networks,” said Koster.  “Owning versus leasing this property allows them the maximum flexibility at this site, and allowed Brightpoint to eliminate future lease payments that had been structured under the previous lease agreement.”

Corr also added, “Brightpoint’s purchase of this state-of-the-art distribution facility is a clear indication of the importance it places on Plainfield and its workers—they are committed to this community for the long haul.”

The property is located in the Indianapolis submarket of Plainfield and offers 30 feet of clear height, 25 dock doors, five drive-ins and 105,000 square feet of office space. 

Jones Lang LaSalle Capital Markets is composed of a broad range of real estate investment debt and equity specialists, and corporate finance experts, working on all property types and in all the major national markets on behalf of major institutional and local investors and developers, as well as corporations.  The firm's Capital Markets professionals are highly skilled at pinpointing and tailoring the right capital solutions for each of these client's needs.  The Development and Asset Strategy team specializes in the sale of non-income-producing properties in their various forms from surplus buildings to raw land to entitled parcels and partially completed subdivisions.  The Investment Sales teams assist investors in developing and executing asset recapitalization strategies for office, industrial, retail, multifamily, healthcare and seniors housing product.

The firm’s Real Estate Investment Banking experts raise debt and joint venture equity for investors and developers, and provide derivatives structuring and loan sale advisory services.  The Corporate Capital Markets professionals help corporations develop and execute strategies that bridge their occupancy, capital deployment and financial reporting objectives for their facility portfolios.  The firm's Value Recovery Services assist clients affected by the current financial crisis by creating value while managing risks through evaluating operational and occupancy needs, assisting with challenged assets and liabilities on their balance sheets, providing receivership services, asset management, raising capital through sales-leasebacks and providing leasing and recapitalization strategies for distressed assets. In the past two years, the firm’s Capital Markets team handled $117 billion of transaction volume.
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 2008 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. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $40 billion of assets under management. For further information, please visit our Web site, 200 East Randolph Drive Chicago Illinois 60601 │ 22 Hanover Square London W1A 2BN │ 9 Raffles Place #39–00 Republic Plaza Singapore 048619