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News release

Boston, MA.

Capital Crossing Leases 24,353 SF at 99 High Boston


BOSTON, April 4, 2011 — Capital Crossing, an industry leading underwriter and investor in and servicer of commercial real estate and small business loans, has signed a 24,353-square-foot lease on floor 7 of 99 High Street Boston. The full floor serves as their US headquarters. The premier 730,000-square-foot first class office and retail tower owned by TIAA-CREF recently received Gold-level LEED certification from the U.S. Green Building Council (USGBC).the Building Owners and Managers Association of Boston Office Building of the Year Renovated Building Award.
 
Jones Lang LaSalle is the construction manager, property management and exclusive leasing agent for the world class asset. Company Managing Director Bill Barrack and Executive Vice President Ben Heller represented TIAA-CREF in the transaction, Senior Vice President Tom O’Regan represented the tenant. Jones Lang LaSalle is the exclusive leasing agent, construction manager, and property management agent for 99 High.
 
A series of projects at 99 High were recently initiated to significantly increase energy efficiency . All building systems have been completely updated. Electricity costs decreased 10%, and both steam and water/sewer expenses decreased by 8%. Electricity supply was aggressively managed to significantly reduce cost. Other improvements to enhance performance include: common area lighting retrofit, Variable Frequency Drives for air handling units, high rise elevator modernization, cooling tower replacement, air handling unit upgrades, and a new gas boiler plant. The replacement of 4,000 windows and façade repair will be completed in 2011. The window project is expected to reduce energy costs by 18%.

Lobby improvements feature a new rear lit feature wall, improved detail lighting, furniture, and custom flooring. Other exterior changes include: façade upgrades of the first two floors with Colonial Gold granite faced columns imported from India; new brass storefront finishes for ground-level retail and the second floor; new awnings highlighted by down lighting; replacement of the sidewalks along High Street; installation of up lighting around the second floor building perimeter; a new mirrored glass canopy; and iconic entrance with mirrored glass. 99 High received the Building Owners and Managers Association of Boston Office Building of the Year Renovated Building Award, and is now competing for the Mid-Atlantic Renovated Office Building of the Year Award.

The Jones Lang LaSalle management team is comprised of Senior Vice President Dan Ozelius and Vice President Bruce Clifford. Jones Lang LaSalle Managing Director Mark David oversees all construction activities. The Construction Manager is Barrie Ferraro.

99 High is currently 84% leased. Other tenants include: Wolf & Company, Cannacord Adams, FINRA, Marsh & McClennan, Hancock Natural Resources, Murtha Cullina LLP, Chartis, and PNC. Jones Lang LaSalle has completed over 374,000 square feet of leasing in the building in the last six years.
 
According to Jones Lang LaSalle’s Heller: “Capital Crossing undertook an extensive search for office space throughout the city. The building’s infrastructure and strength of ownership were instrumental in their decision.” 
 
Located a block from the harbour and Post Office Square in the city’s Financial District, 99 High is adjacent to the Rose Kennedy Greenway with direct access to the Mass Pike and I-93. It is two blocks from South Station, the MBTA and commuter rail lines serving the south markets with AMTRAK connections to New York and Washington, DC.

About TIAA-CREF

TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $434 billion in combined assets under management (as of 9/30/10) and provides retirement services to the academic, research, medical and cultural fields.
 
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 more than 1,000 locations worldwide, including 185 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.