Jones Lang LaSalle completes the Sale of 100 William Street.Jones Lang LaSalle Jones Lang LaSalle (NYSE: JLL) is a major real estate and money management services firm headquartered in the Aon Center in Chicago, Illinois and the only company in its industry making it into Fortune magazine's list of the 100 Best Places to Work in the U.S. has arranged the sale of the Class A office building at 100 William Street William Street may refer to:
LLC - Logical Link Control and Blackacre Capital Management, LLC. The 21-story, 372,893 square-foot tower was purchased by a partnership between Lighthouse Real Estate Ventures, Inc. and Cargill Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . "The acquisition of this property by Cargill and its partner demonstrates the market's strengthening confidence in Lower Manhattan," said Woody Heller, managing director of Jones Lang LaSalle Investment Banking, who directed the sale along with Jones Lang LaSalle associate Peter Harwood. "The offering generated significant interest from several domestic institutional investors, local private investors and opportunity funds, confirming that the investment community recognizes that this property is one of the finest in Downtown Manhattan." Taconic/Blackacre purchased 100 William Street in 1998 as part of a four-building portfolio from Sylvan sylvan emanating from or pertaining to woods. See also sylvatic. Lawrence Company. The property was built in 1973 as the headquarters for Chubb Insurance Company. Chubb recently negotiated a buy-out of their lease, which accounted for approximately 40 percent of the building's office space. Subsequent to the buyout, Taconic/Blackacre implemented lobby modifications and building upgrades, and was then able to capitalize on the current strength of the market by re-leasing a significant portion of the building at higher rents. Taconic/Blackare has leased more than 80,000 square feet to a variety of credit-worthy tenants during the past year, including Level 3 Communications
Level 3 Communications NASDAQ: LVLT is a communications and information services company headquartered in Broomfield, Colorado, USA. and Multex.com, each for 40,000 square feet. The property was 84 percent leased at the time of the sale. "The recent leases at 100 William Street are significant because they demonstrate the ability of the insurance district to attract tenants outside of the insurance industry," said Heller. "Based on this property's prime location and superior quality, it is able to draw telecom and dot-coin companies at compelling rental rates." |
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