PRESS RELEASES

Jones Lang LaSalle Signs Lease at LEED-Gold La Jolla Commons in San Diego

2/18/09

(SAN DIEGO) – The San Diego office of Hines, the international real estate firm, announced today that Jones Lang LaSalle, the global real estate services organization, has signed a long-term lease for approximately 15,000 square feet of office space in La Jolla Commons, the 13-story, 300,000-square-foot office tower, which recently opened in San Diego’s University Towne Centre (UTC) area.

The building, Gold certified in Leadership and Energy and Environmental Design (LEED), is owned by a joint venture between Hines and TIAA-CREF, the national financial services organization. In June 2009, Jones Lang LaSalle will relocate from offices in Del Mar Heights and UTC to La Jolla Commons, where they will occupy the tower’s fourth floor. The firm will join other world-class tenants U.S. Bank and Paul Hastings.

"La Jolla Commons reflects Jones Lang LaSalle’s prominence in the San Diego market and the company’s commitment to environmentally sustainable business practices,” said Managing Director Lynn LaChapelle of Jones Lang LaSalle. Jones Lang LaSalle has a similar commitment to sustainable business practices and has elected to build their interior space to LEED-certified Gold level to compliment the building’s certification.  “La Jolla Commons is the complete package for us:  it offers an optimal location while providing space-planning and operating efficiencies in an exceptional office environment for us to grow our San Diego platform.”

Designed by DMJM Architects, La Jolla Commons is the first, high-rise multi-tenant office building in California to achieve Gold certification in the LEED program, sponsored by the national, non-profit USGBC. It earned this certification for its first-class construction and state-of-the-art operating systems including a highly energy-efficient, exterior glass curtainwall system and a dual water pipe system that reduces the use of fresh water by 87 percent.  It is also the first project in San Diego to receive DEES® or “Designed to Earn the ENERGY STAR” status under the EPA’s national ENERGY STAR® program for commercial buildings.  Overall, the building scored in the 92nd percentile for energy efficiency, according to EPA ENERGY STAR standards, equating to a 50 percent reduction in energy use and a 50 percent reduction in greenhouse gas emissions compared to an average office building.

Jones Lang LaSalle is an international, financial and professional services firm specializing in real estate.  Lynn LaChapelle and Bill Fleck of Jones Lang LaSalle represented their organization in lease negotiations. Hines was represented by Rick Reeder, David Odmark and Brett Ward of Grubb & Ellis|BRE Commercial, the exclusive leasing team for the project.

 “We are thrilled that a premier real estate services firm has identified La Jolla Commons is the best value proposition for their business,” said Hines Vice President and Partner Paul Twardowski. “With the addition of Jones Lang LaSalle, La Jolla Commons is rounding out its tenant roster with prominent, international firms that will identify La Jolla Commons as the premier business hub of UTC and San Diego.”

La Jolla Commons is close to Interstate 805 off of La Jolla Village Drive. In addition to the office tower, the La Jolla Commons campus is also planned to offer over two acres of park area as well as a four-star hotel. Planned on-campus amenities include a restaurant, bar, deli, spa, gym and meeting space. For leasing information on La Jolla Commons Office Tower, call 858/546-5400 or visit www.ljcommons.com.

TIAA-CREF (www.tiaa-cref.org) is a national financial services organization and the leading provider of retirement services in the academic, research, medical and cultural fields with more than $435 billion in combined assets under management.  TIAA-CREF Global Real Estate is one of America's largest institutional real estate investors in the United States, with an approximate $70 billion global portfolio of direct and indirect investments.

Hines (www.hines.com) is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The Hines portfolio of projects underway, completed, acquired and managed for third parties includes more than 1,100 properties representing approximately 457 million square feet of office, residential, mixed-use, industrial, hotel, medical, retail and sports facilities, as well as large, master-planned communities and land developments. In San Diego, Hines owns and manages 2.3 million square feet, including PETCO Park, La Jolla Commons, and 525 B Street in downtown San Diego. With offices in more than 100 cities in 16 countries, and controlled assets valued at approximately $25.6 billion, Hines is one of the largest real estate organizations in the world. Hines is the most prolific ‘green’ developer and currently has 119 new and existing buildings (98 projects), representing over 60 million square feet, that have been certified, pre-certified or registered with the U.S. Green Building Council’s (USGBC) LEED® Green Building Rating System.

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 2008 global revenue of $2.7 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 1.3 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 $46 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.