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News Release

Chicago

Jones Lang LaSalle Selected to Market Midwest Corporate Campus

Pristine 1.5 million square foot corporate campus facility in Harvard, Illinois available


CHICAGO, February 26, 2009 — Jones Lang LaSalle announced today that it has been selected by Optima International to re-tenant the four-building former Motorola campus located at 2001 N. Division Street in Harvard, Illinois. New owner Miami-based Optima International and brokerage rep Jones Lang LaSalle are seeking to re-tenant the property consisting of approximately 325 acres with 975,000 square feet of light manufacturing and distribution space and 572,000 square feet of office space. The property’s replacement cost is estimated at $250 million.  The campus is for sale or lease with office lease rates under $10 per sf (net) and under $3.50 psf (net) for the industrial space.
 
The corporate campus was occupied for a brief period in the late ‘90s as the regional headquarters for Motorola’s cell phone manufacturing and distribution business. The technology decline of the early 2000’s forced Motorola to scale back its plans and this facility was closed. It has been sold multiple times since then and has remained empty.
 
The property is a viable option for a variety of different user types given its infrastructure and location.  Companies with a heavy reliance on air freight can benefit from its proximity to the Rockford International Airport, which has lower cost air freight and the 2nd largest UPS hub in the U.S. Technology, consumer products, and pharmaceutical companies can also benefit from Chicagoland’s workforce.  Kris Bjorson, head of Jones Lang LaSalle’s Chicago Industrial team, is leading a multi-disciplinary marketing team that includes Guy Ponticiello, Mark Kolar and Chris Watts.
 

"Optima International chose Jones Lang LaSalle to market this assignment because of our global reach, access to large corporate users, and our capacity to manage this sort of transaction,” said Mr. Kolar. “Our experience tells us companies are still looking for ways to drive their business but are capital constrained and looking for value opportunities. The Chicago area’s diversified workforce and economy make also make this option attractive to large domestic and international users looking to quickly establish or expand in the Midwest.”
 
Kolar added, “Optima International is primarily self-funded and has less reliance on current banking systems. The firm is well capitalized and is willing to help finance the right sort of deal.”
 
The 1.5 million square foot, four-building campus sits was built in 1997 and consists of office, manufacturing, distribution and central services space.  Midwest Corporate Campus also boasts two daycare facilities, a 1,100-person capacity dining room, an auditorium, an interconnected material handling system, a fitness center, and unparalleled infrastructure.
 
For more information about Midwest Corporate Campus, please visit www.midwestcorporatecampus.com.
 
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 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.