JLL Selected for Leasing and Property Management of 500 W. Jefferson
New ownership of former PNC Plaza relies on JLL to fill the footprint
LOUISVILLE — March 20, 2019 – JLL announces its assignment of leasing and property management services at 500 W. Jefferson, formerly known as PNC Plaza. The office tower was recently purchased by New York-based Somera Road Inc.
Somera Road Inc. is planning several distinct updates including a renovated lobby, new elevators and common areas including a state-of-the-art fitness center, conference center, and lounge. The 29-story building is the third largest office building in downtown Louisville.
“JLL brings experience and expertise to reposition 500 W. Jefferson and enhance the building’s visibility in an ever-improving downtown market,” said Doug Owen, Senior Vice President who leads the JLL office team. “We are excited to work with Somera Road, a team willing to make the necessary improvements to bring 500 W. Jefferson to its premier, Class A status in downtown Louisville, and we know there is a bright future for this project.” Ken Haskins, the tower’s long-time on-site General Manager, has also joined the JLL team and will remain on staff.
“We are thrilled to partner with JLL to restore 500 W. Jefferson as a modern, Class A building with best-in-class amenities,” remarked Matt Schagrin of Somera Road. “Our portfolio spans markets across the U.S. and we are excited by the momentum in downtown Louisville. We are eager to get to work to bring the next chapter at 500 W. Jefferson to fruition.”
The building has multiple size suites available from about 1,700 square feet to over 100,000 square feet in both the low and high-rise sections. The building features expansive views of Louisville and the Ohio River, an onsite restaurant and café, and easy access to highways and public transportation.
For more information, visit www.us.jll.com/en/locations/midwest.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
Somera Road, Inc. is a New York-based commercial real estate investment firm focused on value-add and opportunistic transactions across all asset classes and geographies. Someratargets off-market acquisitions previously impaired by some form of distress, such as loan defaults, partnership disputes, and bankruptcy, that are often overlooked by largerinstitutional investors. Somera takes an entrepreneurial and methodical approach to identifying off-market real estate opportunities and generating above-market returns for its investors. With a disciplined and aggressive approach, Somera drives value through strategic asset re-positionings, targeted capital improvement plans, and best-in-class, hands-on asset management. Since its inception, Somera has acquired over $600 million in real estate and currently manages a portfolio of approximately 6.0 million square feet, spread across 20 cities.