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News release

San Diego, CA

Jones Lang LaSalle Negotiates Lease Renewal for J. Craig Venter Institute


SAN DIEGO, Jan. 13, 2011 –Jones Lang LaSalle brokers Scot Ginsburg and Brian Cooper successfully negotiated a lease renewal on behalf of the J. Craig Venter Institute (JCVI), a not-for-profit leading research institute dedicated to genomics research, for approximately 33,000 square feet of space in the Torrey Pines sub-market of San Diego.
 
Through the lease renewal, which affords J. Craig Venter Institute nearly three more years at 10355 Science Center Drive, JCVI was able to gain greater flexibility and increase cost effectiveness for accommodating growth.
 
The lease renewal value is 12 percent below the previous rate. The property is owned by HCP, Inc.
 
Jones Lang LaSalle is a leader in the San Diego commercial real estate market. The firm employs approximately 45 of the area’s most recognized industry experts offering services in brokerage, capital markets, facility management and project development services. In 2010, the San Diego team completed 1,448,307 square feet in lease transactions and directed $34.5 million in project management and currently leases and/or manages more than 5.5 million square feet in the market.
 
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 website, www.joneslanglasalle.com.