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News Release


Jones Lang LaSalle first property management instruction in Moscow

Moscow, 14 April 2010 – Jones Lang LaSalle is pleased to announce that its Retail Property Management team has secured an important instruction to provide property management services to Torgovyi Dom Na Khodynke LLC, the owner of the Fifth Avenue Shopping and Entertainment Centre which is located in the north-west of Moscow.  Torgovyi Dom Na Khodynke LLC is owned by Immoeast AG.

Fifth Avenue’s Gross Building Area is 43,590 sq m. Among anchor tenants are Perekriostok, Cite Marilou, Cinema Park. Other key retailers include Lady & Gentleman City, MEXX, Ile de Beaute, Zolla, Henderson, Mothercare, Starbucks, Kolbasoff, El Inka, etc. The Center was opened in December 2004, and last year was celebrating its 5th Anniversary.

This is the first company’s assignment in Russia after the recent launch of the service across the CEE region and Turkey in 2009. Currently Jones Lang LaSalle manages more than 320 shopping centers all over the world with total area more than 14 million sq m. Istanbul Cevahir Shopping and Entertainment Centre, one of the largest centres of its kind with GLA of 110,000 sq m, is among them.

Dirk Wichner, European Director, Head of Retail Property Management Department, Jones Lang LaSalle: “We have carried an in-depth market research and recognized that there is an absolute business need for the property management services in Russia. This is a great opportunity for Jones Lang LaSalle to build a high quality and consolidated Property Management service that protects and enhances the key assets of the company’s clients. Jones Lang LaSalle intent is to offer a service based on real expertise and to deliver advice that truly extends ‘outside the box’”.

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 2009 global revenue of $2.5 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 130 million square meters 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 $40 billion of assets under management.
In Russia and CIS Jones Lang LaSalle have offices in Moscow, St. Petersburg, Kiev and Almaty. Jones Lang LaSalle, Russia was voted Consultant of the Year in 2004, 2006, 2007, 2008 and 2009 at the Commercial Real Estate Awards, Moscow and Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg. For further information, please visit our Web site