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News release

Jacksonville, FL

Jones Lang LaSalle Hired to Lease 50 N. Laura Street in Jacksonville

Firm wins exclusive leasing mandate for Class-A Bank of America office tower

JACKSONVILLE, Oct. 12, 2010 — Jones Lang LaSalle has been awarded the exclusive leasing mandate for 50 N. Laura Street also known as Bank of America Tower.  The 42-story trophy office tower owned by real estate firm Parmenter Realty Partners is located in the Northbank office market in downtown Jacksonville.  The 660,791-square-foot landmark is 72 percent leased and also has an adjoining 39,000-square-foot building at 135 Bay Street.

“The Bank of America Tower is the premier office building in the heart of Jacksonville’s CBD,” said Mark Stratman, Managing Director at Jones Lang LaSalle. “Not only is the building’s location second to none with easy access to I-10 but the facilities within the building are first class.  The property offers tenants the YMCA health and fitness facilities and the Skyline Dining and Conference Center located on 42nd floor; where the views and conference room spaces are beyond spectacular.”

Jones Lang LaSalle and Parmenter Realty Partners are in the process of restructuring rental rates which will provide $19.75 rates for with non-river view space and $21.00 with river views on the lower floors.  The restructuring of rental rates will stimulate the leasing activity at the property. Jones Lang LaSalle is responsible for the leasing and management of nine million square feet of Class A office space across the state of Florida.

About Parmenter Realty Partners

Parmenter Realty Partners is a vertically integrated real estate operator headquartered in South Florida with regional offices in Dallas, Atlanta, and New York. It is actively involved in the expansion of its portfolio in the major markets in the Southeastern and Southwestern regions of the U.S.  Parmenter identifies and acquires underperforming properties in fundamentally sound in-fill markets that have current or future occupancy issues and require repositioning, and uses its hands on operational skills to create operational efficiencies

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, visit our website,