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News release

Boston, MA

Farley White Purchases 480 Pleasant and 5 Bridge Streets in Watertown

Jones Lang LaSalle Closes Sale and is Appointed Leasing Agent


BOSTON, January 10, 2011 — Jones Lang LaSalle has executed the sale of 480 Pleasant Street and 5 Bridge Street, two buildings totaling 203,395 square feet in Watertown, MA. The converted mill buildings on an 11-acre business campus were sold by Boston Scientific Corporation to Farley White Interests. Buyer Farley White has named Jones Lang LaSalle exclusive leasing agent.
 
The Jones Lang LaSalle team representing Boston Scientific in the transaction was Managing Directors Bill Bailey and Scott Jamieson.
 
The four-story waterfront buildings served as Boston Scientific’s headquarters. Their original brick and beam architecture have been maintained to form a unique work environment. The property features 40,000 square feet of clean room space, and parking for 800 vehicles. The site does support future development. It is located 1-1/2 miles from the Mass Pike, a short distance from MBTA bus, subway, and commuter rail lines.
 
“We look forward to reinvigorating this fine property,” said Farley White Principal John Power, “and reestablishing it as a significant contributor to the economic vibrancy of the Watertown community.”
 
According to Jones Lang LaSalle Vice President Daniel Kollar: “We are thrilled about the opportunity to work with the Farley White team on this exciting new project. The property’s location, campus-like setting, unique architecture and functional office, R&D and lab space provide flexibility for a wide spectrum of user types and sizes. Coupled with a strong ownership and management team, with a proven track record for creatively structuring deals to meet their tenants’ evolving occupancy needs, we feel this project is well positioned for success.”
 
Joining Daniel on the leasing team is Jones Lang LaSalle Senior Vice Presidents Peter Bekarian and Keith Gurtler, and Vice President Brendan Cohn.
 
About Farley White

Farley White Interests is a Boston-based owner of commercial real estate. The company owns and operates over 2.3 million square feet of commercial buildings which serve over 200 tenant customers.  Farley White endeavors to go beyond the expected.  The company is passionate about its buildings and continuously works to improve them aesthetically and functionally.  Farley White enhances each of its properties with a focus on improvement, a respect for quality design and craftsmanship and quality service coupled with responsive management. These efforts benefit their customers by giving tenants superior workplaces and allowing investors to accumulate standout return on investment.  For further information, please visit Farley White’s web site at www.farleywhite.com.
 
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.