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News release

New York

Jones Lang LaSalle, Silverstein Properties Ink 22,237-SF Renewal, Expansion for Janney Montgomery Scott at 575 Lexington Avenue in New York

Financial services firm renews, expands to 22,237 SF, relocates to single floor at Class A office building in Midtown

NEW YORK, July 12, 2010 — Jones Lang LaSalle and Silverstein Properties have completed a 22,237-square-foot lease renewal and expansion for Janney Montgomery Scott LLC at 575 Lexington Avenue. The financial services firm signed a seven-year lease for office space at the 637,000-square-foot, Class A building.

The tenant was represented by Jimmy Wenk and Paul Formichelli, senior vice presidents, both with Jones Lang LaSalle’s New York office. Building owner Silverstein Properties was represented in house by Roger Silverstein and Jeremy Moss.

“Janney Montgomery Scott is growing and sought additional office space for several of its business units,” said Wenk. “We were able to obtain a full floor of expansion space at 575 Lexington Avenue, where the financial services firm was already a tenant. The new space will allow Janney Montgomery Scott to meet its future growth needs and accommodate its expanding capital markets business and private client group.”

Janney Montgomery Scott now occupies a total of 22,237 square feet of office space at 575 Lexington Avenue, which is located between East 51st and East 52nd streets. The financial services firm previously occupied 16,000 square feet on the 34th floor and the 35th floor, and will relocate to the entire 15th floor of the building.

Neighboring tenants at the building include Palestrini Post Production Inc., Cornell University, Boies Schiller Flexner and Development Corp. for Israel.

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,

About Silverstein Properties

Silverstein Properties, Inc. (SPI) is a privately-held, full-service real estate development, investment and management firm based in New York. Founded in 1957 by President and CEO Larry Silverstein, SPI has developed, owned and managed more than 35 million square feet of commercial, residential and retail space in the United States. Currently, SPI’s portfolio includes 9 million square feet of commercial and residential properties in Midtown and Downtown Manhattan. The firm has $10 billion of planned development, including rebuilding the office complex at the World Trade Center in New York. For more information, visit