Jones Lang LaSalle's (JLL) capital markets team experts have closed on the sale of I-290 Industrial Park for an institutional investor.  Cabot Properties purchased the 576,930 s/f property and an additional land parcel with the potential for an additional 45,000 s/f of development for $39 million.
Leading the JLL team on this assignment were managing directors Catherine Daume, Scott Jamieson and Mike Smith, along with senior vice president Gail McDonough.  Also involved was assistant vice president Rick Schuhwerk, an industrial leasing expert in this market.
"The strategic location of this industrial park, combined with strong occupancy and credit tenancy, proved a great incentive for potential investors," said Jamieson. "The transaction provided strong investment gains for our client while allowing Cabot Properties to acquire a 90% leased park with tremendous upside potential."
The six-building, single-story industrial park has a mix of manufacturing, distribution, research & development and warehouse tenants. Originally constructed between 1975 and 1980, I-290 Industrial Park is off I- 290, and a few miles from I-495 and 90.
Jones Lang LaSalle Capital Markets is comprised of a range of corporate finance experts and real estate investment capital specialists, working on all property types and in all the major national markets on behalf of corporations, major institutional and local investors and developers.  The firm's Capital Markets professionals are highly skilled at pinpointing and tailoring the right capital solutions for each of these client's needs.  The Corporate Capital Markets professionals help corporations develop and execute strategies that bridge their occupancy, capital deployment and financial reporting objectives for their facility portfolios. The Investment Sales teams assist investors in developing and executing asset recapitalization strategies for office, industrial, retail, multifamily, healthcare and seniors housing product.  The firm's Real Estate Investment Banking experts raise debt and joint venture equity for investors and developers, and provide secondary loan sale advisory services.   Collectively, the firm's Capital Markets team handled $82 billion in annual transaction volume in 2007.

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 2007 global revenue of $2.7 billion, Jones Lang LaSalle has approximately 180 offices worldwide and operates in more than 700 cities in 60 countries.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.2 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 $54 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.