Jones Lang LaSalle has completed a lease on behalf of building owner Piedmont Office Realty Trust at 5000 Corporate Court, with the General Services Administration (GSA). The government agency signed a 10-year lease for 37,601 s/f at the class A, 270,000 s/f office building.
The building owner was represented by Raymond Ruiz, Marianne Dugan, Doug Seale and Brian Cruz of Jones Lang LaSalle's Melville office. The tenant was represented by Melissa Hein with Studley. The Jones Lang LaSalle team worked closely with Alex Valente and George Wells of Piedmont Office Realty Trust.
The GSA signed the 37,601 s/f lease on behalf of the IRS at 5000 Corporate Court, which is located between Point St. and Blue Point Rd. West. The government agency will occupy a majority of the second floor with this expansion.
Raymond Ruiz also represented Piedmont Office Realty Trust in two previous GSA transactions at 5000 Corporate Court. The government agency signed an expansion and renewal for the Internal Revenue Service totaling 101,178 s/f in March of this year and inked a new GSA lease for the Immigration and Naturalization Service totaling 52,697 s/f in July 2009.
"We are extremely pleased with the amount of leasing activity that has recently been completed with the GSA at our property on Long Island," said George Wells, senior vice president of Piedmont Office Realty Trust. "It took the hard work and cooperation of many parties to accomplish. The efforts of our GSA affiliates, Jones Lang LaSalle representation and our own internal asset management team are each to be commended for their significant roles in completing 191,476 square feet of transactions in the past 18 months."
"The IRS appreciated the high quality of 5000 Corporate Court and the ownership's experience with GSA requirements," said Ruiz. "The large open floor plates and excellent parking ratio were also determining factors in the final decision for the IRS in leasing space at the office property."
Jones Lang LaSalle is a leader in the New York tri-state commercial real estate market, with more than 1,600 of the most recognized industry experts offering brokerage, capital markets, facilities management, consulting, and project and development services. In 2009, the New York tri-state team completed approximately 21 million square feet in lease transactions, concluded property sales transactions valued at more than $1.75 billion, managed projects valued at more than $4 billion, and oversaw a property and facilities management portfolio of 76 million square feet.
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 1.6 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 approximately $40 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.
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