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News release

Parsippany, NJ

Jones Lang LaSalle to Sell 16.5 Acre Redevelopment Site near Downtown Bloomfield, NJ

Hartz Mountain site positioned for residential, retail or mixed-use redevelopment


BLOOMFIELD, NJ, July 22, 20010 — Jones Lang LaSalle today announced that it has been appointed as exclusive sales agent for a 16.5 acre redevelopment site located at 192 Bloomfield Avenue in Bloomfield, N.J. – one of the largest redevelopment sites in the area. The property, currently home to a multi-building manufacturing plant totaling 400,000 square feet, is located half  a mile south of downtown Bloomfield and is ideally positioned for residential, retail or mixed-use redevelopment.

Jones Lang LaSalle was retained by the property owner, The Hartz Mountain Corporation, a major pet supply manufacturing company headquartered in Secaucus, N.J., to sell the site.  Hartz has owned the property since the 1960’s and plans to phase out of the plant over an 18-month period, relocating the majority of its manufacturing operations to other facilities it occupies around the country.

Jones Lang LaSalle’s industrial property brokerage team of Robert Kossar, David Knee, Blake Chroman and Chris Hile will manage the marketing and sales process for this high-profile assignment.

“The property’s size and strategic location near downtown Bloomfield, major highways and public transportation provides a tremendous opportunity for a successful residential, retail or mixed-use redevelopment project,” said Chroman.  “Northern New Jersey is such a densely populated area with very few large land sites available for sale.  When a large, well-located property such as this site becomes available for sale, it typically garners significant interest from the development community.”
 
The property is located at the stoplight intersection of Bloomfield Avenue and Watsessing Avenue, approximately half a mile south of downtown Bloomfield.  It is also situated about one-third of a mile east of The Garden State Parkway and immediately west of New Jersey Transit’s Grove Street Light Rail station. The site is also located near several planned residential and mixed-use projects.
 
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. LaSalle Investment Management, the company's investment management business, is one of the world's largest and most diverse in real estate with approximately $40 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.