CHICAGO and ATLANTA, Sept. 20 /PRNewswire-FirstCall/ -- Jones Lang LaSalle
and Wells Real Estate Funds today announced the renewal of Jones Lang
LaSalle's 10-year, 132,000-square-foot lease at Aon Center, a
2.6-million-square-foot office building owned by Wells Real Estate Investment
Trust, Inc. (Wells REIT) and located in Chicago's East Loop.
(Photo: http://www.newscom.com/cgi-bin/prnh/20040920/CGM024 )
Additionally, Wells has awarded Jones Lang LaSalle the leasing and
management of Aon Center, effective October 16 and extending through the term
of the lease, along with seven additional office properties within its
national portfolio. Jones Lang LaSalle will assume the leasing and management
responsibility for 4.8 million square feet of office space in properties owned
by Wells-sponsored programs in three key markets: Chicago, New Jersey and the
greater Washington, D.C. area.
Shawn P. Mobley, Senior Vice President of Tenant Representation, and
Daniel T. Ryan, Chief Operating Officer of Leasing & Management for Jones Lang
LaSalle negotiated the transaction on behalf of the company. Don Henry,
Managing Director of Asset Management, and Senior Vice Presidents George Wells
and Chuck Alexander of Wells represented the building ownership.
"During our discussions with Jones Lang LaSalle we recognized that our
firms share a commitment to high-quality management services and excellence in
all that we do," said Don Miller, Chief Real Estate Officer of Wells. "Jones
Lang LaSalle's reputation and well-respected brand, coupled with the caliber
of its employees, makes us confident in their ability to successfully lease
and manage our assets."
"Being based in a prestigious office building that reflects the stature of
Jones Lang LaSalle as a company was one of our occupancy requirements. Aon
Center exceeds all of our expectations, and we are proud to continue to be
associated with the building," said Peter C. Roberts, CEO of Jones Lang
LaSalle Americas. "We are honored that Wells chose us to lease and manage a
portion of its portfolio and are confident in our ability to enhance the value
of their assets."
Employee input was paramount in Jones Lang LaSalle's occupancy decision.
Over the course of the last year, feedback was elicited from surveys and focus
groups, which indicated that employees enjoyed Aon Center due to its excellent
amenities, natural light and breathtaking views of Lake Michigan and the
Aon Center is located at 200 East Randolph Drive, overlooking Millennium
Park, Grant Park and Lake Michigan. The building is a recognized landmark on
Chicago's skyline and is conveniently located near the world-class shopping on
Michigan Avenue as well as the city's most well-known theaters and museums.
The building's amenities include the Mid-America Club, a full-service post
office, Associated Bank, a variety of restaurants and retail shops and the
adjacent Lakeshore Athletic Club and Fairmont Hotel.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE: JLL) is the world's leading real estate services
and money management firm, operating across more than 100 markets around the
globe. The company provides comprehensive integrated expertise, including
management services, implementation services and investment management
services on a local, regional and global level to owners, occupiers and
investors. Jones Lang LaSalle is also the industry leader in property and
corporate facility management services, with a portfolio of approximately 725
million square feet (67 million square meters) under management worldwide.
LaSalle Investment Management, the company's investment management business,
is one of the world's largest and most diverse real estate money management
firms, with approximately $23 billion of assets under management. For more
information, visit http://www.joneslanglasalle.com .
About Wells Real Estate Funds
Wells Real Estate Funds is a national real estate investment management
firm that purchases real estate on behalf of Wells-sponsored investment
programs. Since 1984, more than 160,000 individuals across the country have
invested (through their financial advisors) in Wells-sponsored investment
programs to help diversify their investment portfolios. Collectively,
Wells-sponsored programs own more than $6 billion in assets (valued at cost)
totaling more than 30 million square feet of space. To find out more, visit
Wells online at http://www.wellsref.com .
Wells Real Estate Funds Disclaimer
This press release may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and 21E of the Securities
Exchange Act of 1934, including discussions regarding Wells' use of proceeds
and certain other factors that may affect future earnings or financial
results. Such statements involve risks and uncertainties, which could cause
actual results to vary materially from those expressed in or indicated by the
forward-looking statements. Factors that may cause actual results to differ
materially include changes in general economic conditions, changes in real
estate conditions, construction delays, increases in interest rates, lease-up
risks, lack of availability of financing, and lack of availability of capital
proceeds. This is neither an offer nor a solicitation to purchase securities.
SOURCE Jones Lang LaSalle