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News release

New York, NY.

Jones Lang LaSalle Selected by William Macklowe Company, ING Clarion Partners to Lease 636 Avenue of the Americas

Firm to lease, market 90,000 SF, six-floor, Class A office building


NEW YORK, March 1, 2011 — Jones Lang LaSalle has been selected by William Macklowe Company and ING Clarion Partners as exclusive leasing agent for 636 Avenue of the Americas. Jones Lang LaSalle will be responsible for leasing and marketing efforts at the 90,000-square-foot, Class A office building recently acquired by a joint venture between WMC and ING Clarion.

The Jones Lang LaSalle team overseeing the leasing assignment at 636 Avenue of the Americas is led by Mitchell Konsker and Matthew Astrachan, vice chairmen, along with Jonathan Tootell, vice president, and Matthew Ginberg, associate.

Ownership has commenced a comprehensive repositioning program for the asset led by WMC along with Studios Architecture. This capital program will touch on all elements of the building including a restoration of the facade’s historical architecture, expansion and full renovation of the lobby, installation of new mechanical systems, HVAC, elevators and infrastructure, as well as the construction of a unique roof-top amenity.

"Ownership is committed to making a substantial investment in 636 Avenue of the Americas,” said Konsker. “When the renovations are complete later this year, the property will take its place among the city’s premier boutique office buildings. The building will offer a tremendous opportunity for tenants looking for above-standard ceiling heights and creative space as well as the prominence of 13,000-square-foot full floors in a modern office building.”

The six-story, 90,000-square-foot 636 Avenue of the Americas is located in the Flatiron District on the corner of 19th Street. The building offers a unique opportunity for a tenant to lease the 26,000-square-foot penthouse block, having exclusive access to the roof-top amenity as well as ability for branding and building identity.

“This project will benefit from Macklowe’s 20-plus years of experience improving undervalued real estate assets by providing a first class physical and operational environment for prospective tenants,” said Astrachan.

Jones Lang LaSalle is a leader in the New York tri-state commercial real estate market, with more than 1,600 of the most recognized industry experts offering brokerage, capital markets, facilities management, consulting, and project and development services. In 2009, the New York tri-state team completed approximately 21 million square feet in lease transactions, concluded property sales transactions valued at more than $1.75 billion, managed projects valued at more than $4 billion, and oversaw a property and facilities management portfolio of 76 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 2010 global revenue of more than $2.9 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 1.8 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 more than $41 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.