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News release

Walnut Creek, CA

Jones Lang LaSalle Executes Strong Leasing Activity at Walnut Creek’s Urban West


WALNUT CREEK, CA, Nov. 29, 2010 – Despite a broad economic downturn and continued economic uncertainty throughout the Bay Area and nation, Jones Lang LaSalle has renegotiated leases and signed eleven tenants for a total of 50,000 square feet of space this year at Walnut Creek’s Urban West Business Park.

The five-story, 120,000-square-foot Class A office building located at 1350 Treat Boulevard has seen vacancy decrease from a high of 38 percent to just 10 percent in the 18 months since Jones Lang LaSalle took over leasing responsibilities. Overall office vacancy in this submarket has averaged a steady 28-30 percent over the same time period.

In total, 17 leases have been executed at the property since March 2009 by Jones Lang LaSalle. Of these, seven were expansions and/or renewals of existing tenants, including an expansion of the PAC 10 Conference headquarters and a renewal for the Contra Costa Centre’s corporate office.

“The program of building upgrades set in place in 2008/2009 has gone a long way to add to the appeal of the building despite the downturn in the economy,” remarked Larry Bell, Vice President in the Walnut Creek office of Jones Lang LaSalle.  “Building ownership should be commended for having the foresight to make Urban West one of the earliest LEED certified existing buildings in the submarket and for responding quickly to the need to upgrade key areas of the building such as the parking garage lobby and cooling infrastructure.”

Urban West received LEED Silver certification in 2009.  In addition to renovating the garage lobby and adding a new cooling tower to the property, Jones Lang LaSalle’s leasing and property management teams initiated a new signage program at Urban West to enhance the overall marketing program.  The program included construction of a new monument surrounded by landscaping at the corner of Treat Boulevard and Oak Street.  As part of the building’s LEED certification, artificial turf was used in conjunction with traditional plantings to conserve water usage.

Urban West sits within the Contra Costa Centre transit village and is across the street from the Pleasant Hill BART station, which is also served by buses serving Contra Costa and Solano counties.  The building is also one block from I-680 on/off ramps.
 
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.