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News release

Los Angeles

Jones Lang LaSalle Completes Sale of 51,288 SF Office Building in Los Angeles For $8.35 Million

LOS ANGELES, Oct. 6, 2010 – Jones Lang LaSalle announced today that Palisades Equity Partners has acquired a 51,288-square-foot, multi-tenant office building located at 6133 Bristol Parkway in Los Angeles from Professional Real Estate Services Inc. (PRES) for $8.35 million.

Jones Lang LaSalle’s Chris Strickfaden and Steve Solomon negotiated the transaction on behalf of the buyer and seller.

Located in the West Los Angeles submarket of Culver City, this three-story building is 90 percent leased to several tenants.

Palisades Equity Partners is a full service commercial real estate operating company specializing in the acquisition, development, and management of office, industrial, and multifamily properties located in the Western United States.  The firm specializes in identifying and creating value through real estate equity and debt investments. The founding partners of the company bring more than 35 years of multi-cycle institutional and entrepreneurial experience in office, industrial and multifamily investments encompassing $5 billion of investments.

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 website,