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News Release

Tokyo

Jones Lang LaSalle advises Mercedes-Benz on the sale of their Vehicle

Preparation Centre facility in Toyohashi City, Aichi, Japan


JAPAN, JANUARY 24, 2011 — Jones Lang LaSalle’s Japan Capital Markets team has advised Mercedes-Benz Japan Co. Ltd., the Japanese entity of the leading European automotive maker on the sale of its Vehicle Preparation Center (VPC) facility in Japan to Kamigumi Co., Ltd., for an undisclosed sum.
 
Located in Toyohashi City, Aichi, the site which totals 11,900 square meters, comprises a VPC where imported cars receive inspection and maintenance, together with five other smaller buildings. The total land area spans 60,027 square meters, a large portion of which is currently used as car parking.
 
Jones Lang LaSalle was appointed as exclusive advisor by Mercedes-Benz Japan  and carried out marketing of the site. Further to the initial competitive bid, the site was subsequently sold to a major local transportation company. 
 
Akihiko Mizuno, head of Japan Capital Markets said “We are pleased to help Mercedes-Benz Japan with the sale of Toyohashi VPC.  The sale forms a part of Mercedes-Benz Japan’s improvement of its business efficiency. ”
 
“Japan has suffered from the economic and real estate market slowdown and local cities tend to be more severely affected.  This successful transaction demonstrates that through our expertise and strong business connections, we can uncover opportunities in the market for purpose-built facilities like the Toyohashi VPC. “
 
“Through our wide range of specialist real estate services which include; sales advisory, tenant representation and lease negotiation, we will continue to help our clients meet their requirements.” he added.

About Jones Lang LaSalle Capital Markets
Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. Our in-depth local market and global investor knowledge delivers the best-in-class solutions for our clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In the last three years, Jones Lang LaSalle Capital Markets completed more than $143 billion transactions globally. Our Capital Markets team comprises over 700 specialists, operating in 180 major markets worldwide.