Thursday August 17, 6:00 am Eastern Time
Press Release
Winstar and Jones Lang LaSalle Sign Strategic Relationship Agreement to Provide ``Best in Class'' Broadband Products and Services for JLL Real Estate Clients
Agreement Facilitates Access to 650 Buildings Throughout the United States
NEW YORK--(BUSINESS WIRE)--Aug. 17, 2000-- WINSTAR COMMUNICATIONS, INC. (NASDAQ: WCII - news), a leading broadband services company, and JONES LANG LASALLE (NYSE: JLL - news), the world's largest property management firm, announced today that they have signed a strategic relationship agreement to provide ``best in class'' broadband products and services for Jones Lang LaSalle properties and real estate clients.
Under the terms of the agreement, Jones Lang LaSalle will facilitate Winstar's access in up to 650 commercial properties in its portfolio, totaling over 400 million square feet. In addition, Winstar will make available its broadband services, including high-speed Internet and data, Web-based information and local and long distance phone services, to tenants leasing space in commercial office buildings owned and/or managed by Jones Lang LaSalle. As one of the world's oldest and largest real estate service companies, Jones Lang LaSalle properties are located in such Winstar markets as Chicago, New York, Los Angeles, Boston, San Francisco, Denver, Miami, Atlanta, Houston, Dallas and Washington, DC.
``With over 200 years of institutional history, Jones Lang LaSalle has an incredible track record of making the right decisions at the right time,'' said Robert Best, senior vice president of Jones Lang LaSalle. ``The application of technology to the real estate industry is a key driver for the new digital economy. By partnering with Winstar, we can offer our properties and our clients' properties `best of breed' e-building solutions that ultimately will differentiate the JLL portfolio.''
``Winstar is extremely pleased to be involved in this collaborative effort with Jones Lang LaSalle,'' said Rick Uhl, president and chief operating officer of Winstar for Buildings. ``We are committed to bringing the highest quality broadband solutions to the real estate industry, and this agreement with Jones Lang LaSalle will help to facilitate the implementation of Winstar's high-quality broadband services throughout the United States.''
Winstar works with commercial building owners and managers to provide tenants with a range of e-business solutions--including data, voice, videoconferencing, Web hosting and applications services--through its national broadband network.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE: JLL - news) is one of the world's leading real estate services and investment management firms, operating across more than 100 key markets on five continents. The company provides comprehensive integrated expertise, including property and corporate facility management, transaction services and investment management core services on a local, regional and global level to owners, occupiers and investors. It operates through five business segments: Hotel Services, Investment Management and three geographic regions of Owner and Occupier Services. LaSalle Investment Management, the company's investment management business, is the world's second largest and most diverse real estate investment management firm, with $21.5 billion of assets under management. Jones Lang LaSalle also is the industry leader in property and corporate facility management services, with a portfolio of approximately 700 million square feet under management worldwide. For additional information, please visit the Jones Lang LaSalle Web site at www.joneslanglasalle.com. |
