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News release

Palo Alto

Jones Lang LaSalle Markets Prime Palo Alto Office Building for Embarcadero Capital Partners

Fully leased Class A office building in one of the strongest office markets in country

PALO ALTO, CA, Oct. 5 2010 –Embarcadero Capital Partners has selected Jones Lang LaSalle to exclusively market for sale 100 Hamilton Avenue, a Class A office building located in Downtown Palo Alto.  The four-story, 71,827-square-foot building is 100 percent leased to three institutional-quality tenants with an average remaining lease term of six years.  100 Hamilton is one of the most prominent and desirable office addresses in Downtown Palo Alto and has a storied history as the location where both the ubiquitous Java platform and AltaVista--the first modern internet search engine--were developed.

Leading the marketing team on this transaction are Managing Director Michel Seifer and Senior Vice President Rob Hielscher.

“With immediate adjacency to Stanford University, an office vacancy rate below six percent and average asking rents of $5.00/sf/month triple net, Downtown Palo Alto is one of the strongest and most desirable office markets in the entire country,” said Seifer.  “The property’s outstanding location, high asset quality and income stream security will generate a significant amount of investor interest.”

The Silicon Valley property is located at the intersection of Alma Street and Hamilton Avenue--two of the main thoroughfares in Downtown Palo Alto--directly across the street from the Palo Alto Caltrain station and less than a mile from Stanford University.  100 Hamilton offers 71,827 rentable square feet of office space and two levels of secure underground parking with 107 stalls.  Current ownership has invested approximately $1.6 million in capital improvements since acquiring the property in 2005.  Two four-story atria provide natural light to the interior of the building, and the property’s corner location provides abundant natural light to the exterior offices.  Amenities include a workout facility, state-of-the-art security system and 14 exterior balconies off the tenant spaces on the second, third and fourth floors.

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.
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