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News release


Hopewell Development Purchases Highly Coveted 78-Acre Site in Southeast Edmonton

$31 million deal, completed by JLL, brings possible industrial option to underserved area

EDMONTON, January 14 2014JLL announced today the sale of 4510-17 Street, a 78.8-acre industrial site in southeast Edmonton. The land, located at the intersections of 17 Street and Whitemud Drive, was purchased for $31 million by Hopewell Development Corporation, a Calgary-based commercial developer.

Pe Ben, a subsidiary of Mullen Group of Companies, was the seller, previously using the site as a pipe laydown yard. Jim Bijou, Senior Vice President of JLL's industrial brokerage group in Edmonton completed the sale on behalf of Hopewell.

"There is a major shortage of land in the area, and almost every developer is looking," Bijou said. "The vacancy rate in the area is very low, at roughly 2.0 percent. With such a shortage of space on the market, this was a highly coveted piece of land."

The site backs to an adjoining site owned by Hopewell, which according to Bijou, hopes will bring additional servicing to the area. Located on two major thoroughfares, the land has high visibility, allowing Hopewell the option of developing a variety of spaces, including retail and industrial.

"Either retail or industrial would be a welcomed addition to the area," Bijou said. "It's underserved, and the city has been saying for years there is a lack of serviced industrial land in Southeast Edmonton. This proved to be the right opportunity for Hopewell."

JLL is Canada's fastest growing commercial real estate firm. JLL has two offices in Toronto, with the headquarters located downtown. The firm also operates in, Mississauga, Montreal, Ottawa, Vancouver, Calgary and Edmonton. JLL manages more than 50 million square feet of facilities across Canada. The firm offers tenant and landlord representation, project and development services, investment sales, advisory and appraisal services, debt capital markets and integrated facilities management services to owners and tenants in Canada.

About JLL

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $53.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit