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News release

Parsippany, NJ

Jones Lang LaSalle Announces 59,000 Square Feet of Leasing Activity at 10 Waterview Boulevard in Parsippany, N.J.


PARSIPPANY, N.J., Nov. 29, 2010 — Jones Lang LaSalle has announced the completion of two lease expansions totaling 59,000 square feet at 10 Waterview Boulevard. The three-story, 208,601-square-foot, Class A office building is located at the Waterview Corporate Center in Parsippany, N.J.

Nielsen Company, a media research company, has been a tenant of 10 Waterview Boulevard since 1994, and has signed a 34,000-square-foot lease, expanding its former space by approximately 3,000 square feet. The company is also undertaking renovations to its space within the building.

Additionally, the U.S. General Services Administration (GSA), which leases space for the Food and Drug Administration is another long-time tenant of10 Waterview Boulevard and has signed a 25,000-square-foot lease, expanding its previous space by approximately 8,700 square feet. GSA recently completed renovations to its space within the building.

Jones Lang LaSalle office brokers - Executive Vice President Dennis McConnell, Senior Vice President Susan Mason and Associate Peter Politi serve as the exclusive leasing agents for 10 Waterview Boulevard and completed the transactions on behalf of the building’s landlord, MIREF Waterview LLC.

“The ownership’s commitment to upgrading 10 Waterview Boulevard, obtaining the Energy Star label and providing a strong property management team with Kwartler Associates, make 10 Waterview Boulevard ideal for corporate tenants seeking a state-of-the-art facility,” stated McConnell.  “The building’s first-class amenities, as well as its direct access to regional thoroughfares, make 10 Waterview an ideal location to accommodate the growing operations of both Nielsen and the U.S. General Services Administration.”

The property is situated in Waterview Corporate Center, a corporate campus that encompasses 18.5 acres of land, just 18 miles west of Newark Liberty International Airport and six miles from Morristown Municipal Airport. The building offers immediate access to Interstate 287, Routes 202 and 46, while Interstate 80 is just minutes away.

There is currently 22,561 square feet on the first floor of the building which has been “white-boxed” and is ready for occupancy.  Additionally, the building offers a pre-built unit of 15,299 square feet on the second floor, and 9,193 square feet on the third floor.

MIREF Waterview LLC recently renovated the building’s dramatic, three-story atrium lobby with new furniture and artwork, and has updated the main and side entrances and wing lobbies. The renovation and relocation of the building’s café vendor offers more seating for office tenants, and new elevator finishes and external trim have updated the building’s image.
 
The property also features 757 parking spaces and has recently undergone landscape enhancements. Tenants also benefit from hands-on, attentive property management.

Local New Jersey Presence

Jones Lang LaSalle’s New Jersey operations rank within the top three as a leader in brokerage, project management and investment sales in the state. The firm boasts over 300 real estate professionals and support personnel, which provide agency leasing, tenant representation, industrial services, strategic consulting, project and property management and investment sales services to many of New Jersey’s leading corporate tenants, investors and landlords.  The operations also serve as the local service provider for the firm’s global and national corporate clients which have a presence in New Jersey. 

Jones Lang LaSalle emerged on New Jersey's commercial real estate scene in 2005. With its New Jersey headquarters in Parsippany, the firm also operates in Iselin and Hasbrouck Heights. In 2009, the firm’s New Jersey business completed 11.6 million square feet in lease transactions and oversaw project management assignments valued at more than $106 million in the State. The firm’s management portfolio on behalf of owners and occupiers totals over 100 million square feet.

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. For further information, please visit our Web site, www.joneslanglasalle.com.