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News release

Chicago

Jones Lang LaSalle Negotiates 305,000 SF Lease for Packaging Wholesaler

Industrial deal is the largest in the Northwest submarket, third-largest in the region in 2010


CHICAGO, Aug. 16, 2010 — In one of the Chicago market’s largest industrial lease transactions in 2010, Jones Lang LaSalle represented JIT Packing, Inc., in an expansion and relocation of its corporate headquarters and warehousing/distribution operations to a 304,800-square-foot facility in the northwest suburbs.

Frank Griffin, Dominic Carbonari and Nick Esposito of Jones Lang LaSalle completed the lease transaction on behalf of JIT Packaging, a leading wholesaler of packaging materials. The building owner, ProLogis, was represented by Jim Planey and Jeff Janda of Lee & Associates.

The deal constitutes the largest industrial lease transaction in the Northwest submarket in 2010 and the third-largest industrial lease in all of Northern Illinois.

The building is located at 1365 Mitchell Boulevard in Schaumburg, just north of the Elgin-O’Hare Expressway and about one mile west of Roselle Road. The company will occupy the entire building within the next several weeks. The lease began on Aug. 1.

JIT, which is moving from a 250,000-square-foot space at 1452 Brewster Creek Boulevard in west-suburban Bartlett, will employ approximately 40 people at the new facility including several front-office executives working from a 5,600-square-foot office space.

“JIT entered the market looking for a larger, more centrally located facility,” said Griffin, a Jones Lang LaSalle Executive Vice President. “Our knowledge of the marketplace and the prevailing market conditions allowed us to accomplish that while also negotiating a lease that will provide JIT with substantial long-term operational cost savings.”
 
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 $38 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.