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News release

Jones Lang LaSalle takes over management of 3 office buildings purchased earlier this year by Growthpoint Properties Australia – adding to the 13 properties it currently manages for the ASX listed AREIT

This new appointment takes the total commercial and retail space under management by Jones Lang LaSalle in Queensland to over 500,000 square metres


BRISBANE, 11 APRIL 2012 – Jones Lang LaSalle has been selected to provide property management services for 3 office buildings in Queensland purchased earlier this  year by Growthpoint Properties Australia – 333 Ann Street, Brisbane and CB1 and CB2 in South Brisbane.
 
The appointment of Jones Lang LaSalle’s Property and Asset Management division commenced on 1 March 2012 for a period of 2 years.
 
Director, Queensland Property and Asset Management, Brett Stack said, “Jones Lang LaSalle has been managing 10 assets in the Growthpoint portfolio over the past two years and we have been reappointed for a further two-year term on these assets, with the addition of the three prominent office properties recently acquired by Growthpoint.
 
“This now takes our management of Growthpoint assets in Queensland to 174,000 square metres.
 
“We are looking forward to the expansion of our business relationship with Growthpoint and adding further value to their commercial property portfolio in the strategic management of these assets,” said Mr Stack.
 
About 333 Ann Street, Brisbane:
 
This is a 24 level A-Grade office building in the Brisbane CBD.  The property includes 92 car spaces.
 
About CB1 and CB2, South Brisbane:
 
CB1, 22 Cordelia Street, South Brisbane is an A-Grade office building on the fringe of the Brisbane CBD, comprising  9 levels and 2 levels of basement parking.
 
CB2, 42 Merivale Street, South Brisbane is an A-Grade office building on the fringe of the Brisbane CBD, comprising 6 levels and 2 levels of basement parking.