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News release

Boston

Jones Lang LaSalle Completes Major Capital Improvements at 99 High


BOSTON, January 13, 2009 - Jones Lang LaSalle, the world's leading financial and professional services firm specializing in real estate, completed construction of a far reaching capital improvements program at 99 High, a 730,000-square-foot premier first class office and retail tower overlooking the Rose Kennedy Greenway in Boston. Jones Lang LaSalle acted as construction manager on behalf of building owner TIAA-CREF.
 
Highlights of the exterior changes include: façade upgrades of the first two floors featuring new Colonial Gold granite faced columns imported from India replacing existing Travertine marble dating back to construction of the building; new brass window storefront finishes for ground-level retail and the second floor; new awnings with logos highlighted by down lighting fixtures; replacement of sidewalks along High Street; installation of up lighting around the second floor perimeter of the building; newly branded mirrored glass canopy; and iconic entrance featuring mirrored glass highlighting the building address and unique positioning within the market. Interior upgrades include dramatic lobby lighting, elevator modernization, and complete system updates.
 
Jones Lang LaSalle's construction team was led by Project Executive Harry Dangora and Construction Manager Barrie Ferraro. The project superintendent was John Kirk and Karl Ginand served as the head estimator. Elkus Manfredi and Bone Levine both served as the project architects and R.W. Sullivan Engineering as the engineer.
 
According to Ferraro: "The improvements at 99 High make it virtually a new building inside and out. TIAA-CREF's vision has repositioned the asset, adding significant value and enhancing the tenant experience."
 
99 High is a landmark building located one block from Boston Harbor and Post Office Square. It has direct access to the Mass Pike and I-93. It is also two blocks from South Station and the MBTA and commuter rail lines which serve the south markets and offer AMTRAK connections to New York and Washington, DC."We are pleased to announce the improvements to 99 High," said Michael Farrell, Director, Real Estate Asset Management, TIAA-CREF Global Real Estate.
 
"We look forward to continuing to work with Jones Lang LaSalle to create value for our tenants and clients."
 
Jones Lang LaSalle also serves as the exclusive leasing agent and property manager, and the marketing team is leading the rebranding efforts. Jones Lang LaSalle and TIAA-CREF partnered to earn the ENERGY STAR designation for the asset from the U.S. Environmental Protection Agency in 2007.
 
About TIAA-CREF Global Real Estate
 
About TIAA-CREF Global Real EstateTIAA-CREF is one of the largest institutional real estate investors in America, managing a global portfolio of direct and indirect investments totalling approximately $68 billion (9/30/08). TIAA-CREF originated its first commercial mortgage in 1934 and began direct investment in commercial real estate in 1947. Today, TIAA-CREF Global Real Estate invests in and actively manages real estate on behalf of individual and institutional clients worldwide. TIAA-CREF Global Real Estate's property portfolio consists of over $22 billion (9/30/08) in equity investments in office, retail, industrial, and residential properties located across the United States, Canada and Western Europe. TIAA-CREF is a national financial services organization and the leading provider of retirement services in the academic, research, medical and cultural fields with $398 billion in combined assets under management (9/30/08)
 
TIAA-CREF Individual & Institutional Services, LLC, and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products.
 
©2009 Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF) New York, NY 10017
 
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 2007 global revenue of $2.7 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 1.2 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 $53 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.
 
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