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News release

Washington, D.C.

Jones Lang LaSalle Supports U.S. General Services Administration with Two Washington, D.C. CBD Leases

GSA renews lease at Market Square North and signs new lease at Sentinel


WASHINGTON, D.C., Jan. 27, 2011 — Jones Lang LaSalle today announced its Public Institutions experts assisted the U.S. General Services Administration (GSA) in successfully negotiating two new leases in the Central Business District of Washington, D.C.  The first is a single-floor lease agreement for the National Capital Planning Commission’s (NCPC) Agency Headquarters in Market Square North, located at 401 9th Street, NW.  The second is a two-floor lease agreement for general office space for the Department of Veterans Affairs (VA) in Sentinel Square I, located at 90 K Street, NE.

The NCPC will continue to occupy space at Market Square North, and the new lease will take effect in the fourth quarter of 2011.  The 10-year lease totals 29,800 rentable square feet of space.  The building is owned by Boston Properties.  GSA’s space acquisition team was led by Daryl Jackson, Lease Contracting Officer, and Shawna Jones.  Jones Lang LaSalle professionals representing the government included Reva Squire and Joe Judge.  Jonathan Kaylor and Greg Storrs represented Boston Properties. 
 
The VA is expected to take occupancy of the newly constructed building known as Sentinel Square I in the second quarter of 2011.  The 10-year lease totals 52,886 rentable square feet of space on two floors.  The building is owned by Sentinel Square I, LLC and Mid Atlantic Development.  Jim Phelan, Michelle Parrish and Mary Morrison comprised GSA’s space acquisition team.  Jones Lang LaSalle professionals representing the government included Reva Squire and Bill Craig.  Thomas Finan of Trammel Crow represented the building owner.

GSA’s lease portfolio contains more than 8,000 properties – approximately 184 million square feet according to information released publically – dispersed across the United States.  Since 2005, Jones Lang LaSalle has assisted GSA in the award of more than 750 leases.  Nationwide, the firm is currently assisting on more than 600 lease procurements for Federal civilian departments and agencies across the executive, legislative and judicial branches.

This news release is neither paid for nor sponsored, in whole or in part, by any element of the United States Government.
 
About The U.S. General Services Administration

The U.S. General Services Administration (GSA) oversees the business of the U.S. federal government.  GSA’s acquisition solutions supply federal purchasers with cost-effective, high-quality products and services from commercial vendors.  GSA also provides workplaces for federal employees, and oversees the preservation of historic federal properties.  As the landlord for the civilian federal government, GSA’s Public Buildings Service (PBS) acquires space on behalf of the federal government through new construction and leasing, and acts as a caretaker for federal properties across the country.  PBS owns or leases 9,600 assets, maintains an inventory of more than 362 million square feet of workspace for 1.1 million federal employees, and preserves more than 480 historic properties.

For additional information, please visit GSA’s website:  www.gsa.gov
 
About Jones Lang LaSalle

Jones Lang LaSalle’s Public Institutions practice is a premier provider of strategic real estate advisory and transaction services for local, state, national and international public institutions, covering the spectrum of the real estate cycle.  From strategy and project management, to transaction and execution, Jones Lang LaSalle helps ensure optimal and efficient utilization of real property assets. Bringing public sector organizations the insight and expertise to turn a real estate portfolio into a collection of working assets—working to meet the entity’s demands for space and working to support the entity’s overall mission. 

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.