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News release

San Diego

Jones Lang LaSalle Facilitates $70 Million in San Diego-Area Sales

Kilroy Realty purchases four Class A office buildings from MPG Office Trust in Mission Valley Submarket


SAN DIEGO, CA, JULY 12, 2010 — Jones Lang LaSalle announced today it has facilitated the $70.5 million sale of Mission City Corporate Center.  The disposition for MPG Office Trust consisted of four separate Class A office buildings located at 2355, 2365, 2375, and 2385 Northside Drive in the San Diego submarket of Mission Valley.  Kilroy Realty Corporation purchased Building D for $17,950,000 and Buildings A-C for $52,550,000. 

Leading the Jones Lang LaSalle team on these transactions was Managing Directors Lynn LaChapelle, Bob Prendergast and Michael Zietsman.

“The quality and uniqueness of these assets in addition to attractive assumable financing all worked together to allow this sale to come to fruition,” said Prendergast.  “Kilroy’s strategic purchase in this expanding submarket positions them well for the future and these properties will offer wide appeal to potential tenants.”

Mission City Corporate Center offers one six-story building and three three-story buildings with a total of 279,429 square feet.  The properties were built between 1988-2008.  The property was 78 percent occupied at the time of sale.  Jones Lang LaSalle has also been retained as exclusive leasing agent for the property with Bess Wakeman handling all inquiries.

Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for its clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In the last three years, Jones Lang LaSalle Capital Markets completed more than $143 billion transactions globally. The firm’s Capital Markets team comprises approximately 1,500 specialists, operating in 180 major markets worldwide.

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.