1 Jones Lang LaSalle Inc. 200 E. Randolph Drive

Chicago IL 60601

Ph: (312) 782-5800

Fax: (312) 782-4339

Web site: www.joneslanglasalle.com

Total sq. ft. under mgmt.: 700,000,000

Pct. managed for outside clients: 100%

Officers: CEO, Jones Lang LaSalle Inc., Stuart L. Scott; COO, Jones Lang LaSalle Inc., Christopher A. Peacock; Pres., Leasing and Mgmt., Brian M. Ross; Co-Pres., LaSalle Investment Mgmt., Lynn C. Thurber; Mng Dir., John G. Minks

2 Trammell Crow Co. 2001 Ross Ave., 34th Fl.

Dallas TX 75201

Ph: (214) 863-3000

Fax: (214) 863-4250

Web site: www.trammellcrow.com

E-mail: lraflowitz@trammellcrow.com

Total sq. ft. under mgmt.: 517,000,000

Pct. managed for outside clients: 100%

Officers: Pres./CEO, George Lippe; CFO, Bob Sulentic; COO, Pryor Blackwell; Principal/SVP, Mktg. & Comm., Barbara Bower

3 Equity Residential Properties Trust Two N. Riverside Plaza

Chicago IL 60606

Ph: (312) 474-1300

Fax: (312) 454-8703

Web site: www.eqr.com

E-mail: jdoe@eqrworld.com

Total sq. ft. under mgmt.: 246,213,090

Pct. managed for outside clients: 2%

Officers: Chmn., Samuel Zell; Pres./CEO, Douglas Crocker II; EVP/COO, Gerald Spector; SVP, Investor Rels./Corp. Comm., Cindy McHugh

4 CB Richard Ellis Inc. 333 South Beaudry Ave., 15th Floor

Los Angeles CA 90017

Ph: (213) 613-3123

Fax: (213) 613-3535

E-mail: eemorales@cbrichardellis.com

Total sq. ft. under mgmt.: 228,229,000

Pct. managed for outside clients: 100%

Officers: CEO, Ray Wirta; Chmn., North America, Brett White; Pres., Jana Turner; Pres., Robert Zerbst; EVP, Joeseph Fitzpatrick

05 Insignia/ESG 200 Park Ave.

New York NY 10166

Ph: (212) 984-8000

Fax: (212) 984-8040

Web site: www.insigniaesg.com

Total sq. ft. under mgmt.: 222,000,000

Pct. managed for outside clients: 98%

Officers: Chmn./CEO, Stephen B. Siegel; Pres./COO, Ronald Uretta; Pres., U.S. Prop. Svcs., John G. Combs; Sr. Mng. Dir., Steve Iaco

06 Lincoln Property Co. 500 N. Akard, #3300

Dallas TX 75201

Ph: (214) 740-3300

Fax: (214) 740-3441

Web site: www.lincolnproperty.com

E-mail: leverett@lpsi.com

Total sq. ft. under mgmt.: 212,900,000

Pct. managed for outside clients: 63%

Officers: Chmn./CEO, Mack Pogue; Residential Pres., Tim Byrne; Commercial Pres., William C. Duvall

07 Cushman & Wakefield Inc. 51 West 52 St.

New York NY 10019

Ph: (212) 841-5000

Fax: (212) 841-7767

Total sq. ft. under mgmt.: 192,000,000

Pct. managed for outside clients: 100%

Officers: Pres./CEO, Arthur J. Mirante II; Exec. Mng. Dir., John C. Santora

08 Simon Property Group 115 W. Washington St.

Indianapolis IN 46204

Ph: (317) 636-1600

Fax: (317) 685-7221

Web site: www.simon.com

Total sq. ft. under mgmt.: 190,382,000

Pct. managed for outside clients: 3%

Officers: CEO, David E. Simon; Pres./COO, Richard S. Sokolov; EVP, Prop. Mgmt., John Neutzling; VP, Corp. Mktg., Shari Simon

09 Grubb & Ellis Co. 2215 Sanders Road, Ste. 400

Northbrook IL 60062

Ph: (847) 753-7500

Fax: (847) 753-9034

Web site: www.grubb-ellis.com

Total sq. ft. under mgmt.: 148,592,345

Pct. managed for outside clients: 100%

Officers: Chmn./CEO, Neil Young; COO, Steven Kaplan; Pres., Grubb & Ellis Mgmt. Svcs., Maureen A. Ehrenberg; PR Mgr., Andy Jurkowski

10 GVA Worldwide 1569 Sherman Ave.

Evanston IL 60201

Ph: (847) 733-0883

Fax: (847) 733-0881

Web site: www.gvaworldwide.com

E-mail: 102266.434@compuserve.com

Total sq. ft. under mgmt.: 140,000,000

Pct. managed for outside clients: 0%

Officers: Chmn., GVA Worldwide, Michael T. Cohen; Pres., GVA North America, Rand A. Diamond; Exec. Dir., GVA North America, Betsy Baer

11 Colliers International 84 State St.

Boston MA 02109

Ph: (617) 722-0221

Fax: (617) 722-0224

Web site: www.colliers.com

E-mail: kgalvin@colliers.com

Total sq. ft. under mgmt.: 129,273,590

Pct. managed for outside clients: 100%

Officers: Pres., Margaret Wigglesworth; Chmn., James B. Karman

12 PM Realty Group 910 Travis St., Ste. 1000

Houston TX 77002

Ph: (713) 209-5800

Fax: (713) 209-5784

Web site: www.pmrealtygroup.com

Total sq. ft. under mgmt.: 121,000,000

Pct. managed for outside clients: 100%

Officers: Pres., Rick V. Kirk; EVP, James C. Gunn; EVP, Thomas M. Kennedy; EVP, J. Ernest Johnson

13 Pinnacle Realty Management Co. 401 Second Ave S., Ste. 110

Seattle WA 98104

Ph: (206) 215-9700

Fax: (206) 215-9777

Web site: www.pinnaclerealty.com

E-mail: prmc.com

Total sq. ft. under mgmt.: 117,370,000

Pct. managed for outside clients: 80%

Officers: Pres./CEO, Stan Harrelson; Chmn., John Goodman; Mktg. Dir., Susan Wilkinson

14 The RREEF Funds 875 N. Michigan Ave., 41st. Fl.

Chicago IL 60611

Ph: (312) 266-9300

Fax: (312) 266-9346

Web site: www.rreef.com

Total sq. ft. under mgmt.: 116,516,112

Pct. managed for outside clients: 100%

Officers: Mng. Principal, Donald A. King Jr.; Principal, Prop. Mgmt., Robert J. Navratil; Principal, Portfolio Mgmt., Robert J. Cook; VP, Corp. Comm., Cynthia L. Talmadge

15 General Growth Properties Inc. 110 N. Wacker Drive

Chicago IL 60606

Ph: (312) 960-5000

Fax: (312) 960-5475

Web site: www.generalgrowth.com

Total sq. ft. under mgmt.: 113,006,000

Pct. managed for outside clients: 30%

Officers: CEO, John Bucksbaum; Chmn., Matthew Bucksbaum; Pres., Bob Michaels; SVP, Asset Mgmt., Randy Richardson; VP, Corp.Comm., Wally Brewster; SVP, Asset Mgmt., Jean Schlemmer; SVP, Asset Mgmt., John Millar

16 Duke-Weeks Realty Investments Inc. 8888 Keystone Crossing, Ste. 1200

Indianapolis IN 46240

Ph: (317) 808-6000

Fax: (317) 808-6794

Web site: www.dukereit.com

E-mail: webmaster@dukereit.com

Total sq. ft. under mgmt.: 110,000,000

Pct. managed for outside clients: 6%

Officers: Chmn./CEO, Thomas L. Hefner; Vice Chmn./COO, A. Ray Weeks; SVP, Asset/Prop. Mgmt., John Nemecek; VP, Mktg., Donna Hovey

17 Transwestern Commercial Services 150 N. Wacker Drive, Ste. 800

Chicago IL 60606

Ph: (312) 499-1900

Fax: (312) 499-1904

Web site: www.transwestern.net

Total sq. ft. under mgmt.: 100,000,000

Pct. managed for outside clients: 100%

Officers: Chmn., Randall K. Rowe; Pres./CEO, Jack Eimer; Pres., Mgmt. Svcs. Group, Robert Bagguley; SVP, Public Relations/Mktg., Gail Osten

18 Kennedy-Wilson Properties Ltd. 9601 Wilshire Blvd., Ste. 220

Beverly Hills CA 90210

Ph: (310) 887-6400

Fax: (310) 887-3410

Web site: www.kennedywilson.com

E-mail: info@kennedywilson.com

Total sq. ft. under mgmt.: 75,000,000

Pct. managed for outside clients: 99%

Officers: Chmn., Barry Schlesinger; Exec. Mng Dir., Terry Wachsner; Dir., Mktg., Kathryn Grant

19 Sentinel Real Estate Corp. 666 Fifth Ave., 26th Fl.

New York NY 10103

Ph: (212) 408-2900

Fax: (212) 603-4960

E-mail: (last name)@sentinelcorp.com

Total sq. ft. under mgmt.: 70,700,000

Pct. managed for outside clients: 100%

Officers: Pres., John H. Streicker; Mng. Dir., Michael Weinberger; Mng. Dir., Noel Belli; Mng. Dir., Christine Kurtz; Mng. Dir., David Weiner; Mng. Dir., Millie Cassidy; First VP, Jacques Lewis

20 Hines 2800 Post Oak Blvd.

Houston TX 770566118

Ph: (713) 621-8000

Fax: (713) 966-2053

Web site: www.hines.com

Total sq. ft. under mgmt.: 70,000,000

Pct. managed for outside clients: 47%

Officers: Chmn., Gerald D. Hines; Pres., Jeffrey C. Hines; EVP, Louis S. Sklar; EVP, Kenneth W. Hubbard; EVP, C. Kevin Shannahan; EVP, E. Staman Ogilvie; EVP, James C. Buie; EVP, Michael J.G. Topham; EVP/CFO, C. Hastings Johnson; EVP, John A. Harris; EVP, Clayton T. Stone; VP`, Steve Peterson; Dir., Corp. Comm., George Lancaster

21 Urban Shopping Centers Inc. 900 N. Michigan Ave., Ste. 1500

Chicago IL 60611

Ph: (312) 915-1735

Fax: (312) 915-2001

Total sq. ft. under mgmt.: 67,438,600

Pct. managed for outside clients: 69%

Officers: Pres./CEO, Matthew S. Dominski; EVP/CFO, Adam S. Metz; Pres., Prop. Mgmt., Joseph M. Shrader; EVP/COO, Dennis M. Zaslavsky; SVP, Mktg., Cindy Bohde

22 Forest City Enterprises Inc. 1100 Terminal Tower, 50 Public Square

Cleveland OH 44113

Ph: (216) 621-6060

Fax: (216) 263-6208

Web site: www.fceinc.com

E-mail: tom_kmiecik@fceinc.com

Total sq. ft. under mgmt.: 61,122,105

Pct. managed for outside clients: 0%

Officers: Co-Chmn./Treas., Samuel Miller; Co-Chmn., Albert Ratner

23 Chesterton Blumenauer Binswanger/Binswanger Management

Two Logan Square

Philadelphia PA 19103

Ph: (215) 448-6000

Fax: (215) 448-6238

Web site: www.cbb.com

E-mail: info@binswanger.com

Total sq. ft. under mgmt.: 60,130,000

Pct. managed for outside clients: 100%

Officers: Chmn., Frank G. Binswanger Jr.; Chmn., John K. Binswanger; Pres., Prop. Mgmt. Group, William DeCara; SVP, Mktg., Ellen Weiss

24 New Plan Excel Realty Trust Inc. 1120 Avenue of the Americas

New York NY 10036

Ph: (212) 869-3000

Fax: (212) 869-3989

Web site: newplanexcel.com

E-mail: corporatecommunications

@newplanexcel.com

Total sq. ft. under mgmt.: 51,511,341

Pct. managed for outside clients: 0%

Officers: Chmn. of the Board, William Newman; CEO/Pres., Arnold Laubich; EVP/COO, James Steuterman; VP, Asset Mgmt., John Hattrich; Dir., Mktg., Sue Hunt; Dir., Corp. Comm., Stacy Lipschitz

25 Legum & Norman Realty Inc. 1430 Spring Hill Road #300

McLean VA 22102

Ph: (703) 734-0900

Fax: (703) 848-0982

Total sq. ft. under mgmt.: 48,049,000

Pct. managed for outside clients: 100%

Officers: Chmn. of the Board, William P. Norman; Pres./CEO, Michael T. Shehadi; EVP, John A. Rhodes; SVP, Marvin Price; Dir., Business Dev., Daniel L. Bauman

26 The Richard E. Jacobs Group Inc. 25425 Center Ridge Road

Cleveland OH 44145

Ph: (440) 871-4800

Fax: (440) 808-6905

Web site: www.REJacobsGroup.com

E-mail: info@REJacobsGroup.com

Total sq. ft. under mgmt.: 46,275,679

Pct. managed for outside clients: 0%

Officers: Chmn./CEO, Richard E. Jacobs; Pres./COO, Martin J. Cleary; SVP, Mgmt./Leasing, Stephen L. Huber; CFO/VP, Finance, Judson E. Smith; VP, Mktg. Svcs., William N. Fullington

27 ConAm Management Corp. 1764 San Diego Ave.

San Diego CA 92110

Ph: (619) 297-6771

Fax: (619) 294-2451

Web site: www.conam.com

E-mail: web-hq@conam.com

Total sq. ft. under mgmt.: 45,237,725

Pct. managed for outside clients: 58%

Officers: Chmn./CEO, Daniel Epstein; Pres./COO, Brad Forrester; EVP, Frazier Crawford; SVP, Ralph Tilley

28 Prentiss Property Services 3890 W. Northwest Hwy., Ste. 400

Dallas TX 75220

Ph: (214) 654-0886

Fax: (214) 654-5774

Web site: www.prentiss-services.com

E-mail: eherron@pplinc.com

Total sq. ft. under mgmt.: 45,200,000

Pct. managed for outside clients: 58%

Officers: Pres., Richard J. Bartel; SVP, William A. Holvey; VP, Natl. Dir., Oper., Joseph S. Summers; SVP, Natl. Dir., Corp. Mktg., Richard A. Ross

29 CarrAmerica 1850 K St., NW, Ste. 500

Washington DC 20006

Ph: (202) 729-7500

Fax: (202) 729-1150

Web site: www.carramerica.com

E-mail: kwidmaye@carramerica.com

Total sq. ft. under mgmt.: 40,811,400

Pct. managed for outside clients: 25%

Officers: CEO and Pres., Thomas A. Carr; COO, Philip L. Hawkins; Managing Dir., Prop. Oper., Richard Greninger; VP, Asset Mgmt., Stephanie Duncan; SVP Corp. Comm., Karen L. Widmayer

30 CBL & Associates Properties Inc. One Park Place, 6148 Lee Hwy., Ste. 300

Chattanooga TN 374216511

Ph: (423) 855-0001

Fax: (423) 490-8662

Web site: cblproperties.com

E-mail: info@cblproperties.com

Total sq. ft. under mgmt.: 38,551,028

Pct. managed for outside clients: 5%

Officers: Chmn./CEO, Charles B. Lebovitz; Vice Chmn./CFO, John N. Foy; EVP, Ben S. Landress; VP, Corporate Relations and Mktg., John R. Martin Jr.

31 Edward Rose Building Enterprise 30057 Orchard Lake Road, P.O. Box 9070

Farmington Hills MI 48333

Ph: (248) 539-2255

Fax: (248) 539-2125

Total sq. ft. under mgmt.: 37,000,000

Pct. managed for outside clients: 0%

Officers: Pres., Sheldon Rose; VP, Warren Rose

32 U. S. Equities Realty LLC 20 N. Michigan Ave.

Chicago IL 60602

Ph: (312) 456-7000

Fax: (312) 456-0056

Web site: www.usequities.com

Total sq. ft. under mgmt.: 36,000,000

Pct. managed for outside clients: 100%

Officers: Chmn./CEO, Robert A. Wislow; Vice Chmn., Camille P. Julmy; EVP, Asset Mgmt., Katherine K. Scott; VP, Mktg., Sharon L. Burge

33 Associated Estates Realty Corp. 5025 Swetland Court

Richmond Heights OH 44143

Ph: (216) 261-5000

Fax: (216) 289-9600

Web site: www.aecrealty.com

E-mail: ir@aecrealty.com

Total sq. ft. under mgmt.: 33,869,130

Pct. managed for outside clients: 36%

Officers: Chmn/Pres./CEO, Jeffrey I. Friedman; CFO, Kathleen L. Gutin; SVP, Oper., Louis E. Vogt; VP, Investor Relations, Barbara E. Hasenstab

34 Eugene Burger Management Corp. 481 Via Hidalgo

Greenbrae CA 94904

Ph: (415) 461-8660

Fax: (415) 461-8784

Web site: www.ebmc.com

Total sq. ft. under mgmt.: 33,557,347

Pct. managed for outside clients: 86%

Officers: Pres., Stephen Burger; SVP, Ronald Vaughn

35 LEDIC Management Group Inc. 5855 Ridge Bend Road

Memphis TN 38120

Ph: (901) 761-9300

Fax: (901) 761-2317

Web site: www.ledic.com

Total sq. ft. under mgmt.: 33,317,460

Pct. managed for outside clients: 100%

Officers: Pres./CEO, David L. Shores; EVP/Dir., Oper., Charles R. Brewer; Dir., Training, Leighanne Fowler

36 Berkshire Realty Holdings L.P. Ten Piedmont Center, Ste. 920

Atlanta GA 30305

Ph: (770) 955-7527

Fax: (770) 955-9559

Total sq. ft. under mgmt.: 32,755,140

Pct. managed for outside clients: 23%

Officers: CEO, Douglas Krupp; Pres., David Olney; EVP, COO, Ridge B. Frew; VP, Jim Hynes

37 IDI Services Group Inc. 3424 Peachtee Rd, NE, Ste. 1500

Atlanta GA 30326

Ph: (404) 479-4000

Fax: (404) 479-4142

Web site: www.idi.com

E-mail: bcalvert@idi.com

Total sq. ft. under mgmt.: 32,572,000

Pct. managed for outside clients: 76%

Officers: Pres./CEO, Henry D. Gregory Jr.; SVP/COO, Timothy J. Gunter; SVP, Bert S. Calvert; Dir., Corp. Comm., Molly Badgett

38 Newmark Real Estate Services 125 Park Ave.

New York NY 10017

Ph: (212) 372-2288

Fax: (212) 372-2482

Web site: www.newmarkre.com

E-mail: info@newmarkre.com

Total sq. ft. under mgmt.: 32,000,000

Pct. managed for outside clients: 69%

Officers: Chmn., Jeffrey R. Gural; Vice Chmn./CEO, Barry M. Gosin; Pres., James D. Kuhn; Exec. Mng. Dir., Joel Herskowitz

39 Glimcher Realty Trust 20 S. Third St.

Columbus OH 43215

Ph: (614) 621-9000

Fax: (614) 621-9311

Web site: www.glimcher.com

E-mail: grtinfo@glimcher.com

Total sq. ft. under mgmt.: 31,900,000

Pct. managed for outside clients: 0%

Officers: Chmn./CEO/Trustee, Herbert Glimcher; Pres./Trustee, Michael P. Glimcher; SVP, Prop. Mgmt., John Hoeller; VP, Corp. Comm. & Mktg., Marie Izzo Cartwright

40 Towne Properties Asset Management Co. 1055 St. Paul Pl.

Cincinnati OH 45202

Ph: (513) 381-8696

Fax: (513) 345-6971

Total sq. ft. under mgmt.: 31,079,000

Pct. managed for outside clients: 74%

Officers: Ptr., Neil K. Bortz; Pres., Robert J. Wahlke; VP, Derek Wehman; VP, Karl L. Boppel; Dir.of Mktg., Janet M. Chiarella

41 Taubman Centers Inc. 200 East Long Lake Road

Bloomfield Hills MI 48303

Ph: (248) 258-6800

Fax: (248) 258-7697

Web site: www.taubman.com

E-mail: ir@taubman.com

Total sq. ft. under mgmt.: 30,900,000

Pct. managed for outside clients: 42%

Officers: Pres./CEO, Robert S. Taubman; EVP/CFO, Lisa A. Payne; SVP, Oper., Denise Anton; EVP, William S. Taubman; Dir., Comm., Karen Mac Donald

42 Weingarten Realty Investors 2600 Citadel Plaza Drive

Houston TX 77008

Ph: (713) 866-6000

Fax: (713) 866-6049

Web site: www.weingarten.com

Total sq. ft. under mgmt.: 30,346,000

Pct. managed for outside clients: 10%

Officers: Chmn., Stanford Alexander; Vice-Chmn., Martin Debrouner; Pres., Andrew Alexander; VP, Curtis Furgason; Dir., Freddye Kelly

43 Charles Dunn Real Estate Services Inc. 800 West 6th St., 6th Floor

Los Angeles CA 90017

Ph: (213) 683-0500

Fax: (213) 683-1551

Web site: www.charlesdunn.com

E-mail: info@charlesdunn.com

Total sq. ft. under mgmt.: 30,067,435

Pct. managed for outside clients: 100%

Officers: CEO/Chmn., Walter J. Conn; Pres., Thomas A. McAndrews; EVP, Jeffrey G. Gunther; VP, Gail Robinson

44 Centerpoint Properties Trust 1808 Swift Drive

Oak Brook IL 60523

Ph: (630) 586-8000

Fax: (630) 586-8010

Web site: centerpoint-prop.com

E-mail: info@centerpoint-prop.com

Total sq. ft. under mgmt.: 30,000,000

Pct. managed for outside clients: 0%

Officers: Pres./CEO, John S. Gates Jr.; CFO/Gen. Counsel, Paul S. Fisher; COO, Michael M. Mullen; CIO, Paul Ahern; External Affairs Dir., Rhonda Mork

45 Colliers Turley Martin Tucker 34 N. Meramec, Ste. 500

Clayton MO 63105

Ph: (314) 862-7100

Fax: (314) 862-1648

Web site: www.ctmt.com

E-mail: dmueller@tmstl.com

Total sq. ft. under mgmt.: 29,000,000

Pct. managed for outside clients: 100%

Officers: Pres./CEO, Mark Burkhart; EVP, Brokerage Svcs., Kevin Hughes; SVP, Dir., Prop. Mgmt., Dean Mueller; Dir., Corp. Comm., Amy Barr

46 JPI 600 Las Colinas Blvd., Ste. 1800

Irving TX 75039

Ph: (972) 556-3800

Fax: (972) 556-3860

Web site: www.jpi.com

Total sq. ft. under mgmt.: 28,400,000

Pct. managed for outside clients: 10%

Officers: Chmn. of the Board/CEO, J. Frank Miller III; Pres./COO, Robert D. Page; EVP/Sr. Oper. Ptr., JoAnn McCarter; EVP/Sr. Oper. Ptr., James A. Fadley; Asst. VP, Corp. Comm., Joy A. Arthur

47 Western National Property Management 8 Executive Circle

Irvine CA 92614

Ph: (949) 862-6200

Fax: (949) 862-6494

Web site: www.wng.com

E-mail: sdonohue@wng.com

Total sq. ft. under mgmt.: 28,110,000

Pct. managed for outside clients: 47%

Officers: CEO, Michael K. Hayde; Pres./COO, Steve Donohue; Pres./COO, Rex DeLong; VP, John Selindh

48 EPT Management Co. 6090 Surety Drive, Ste. 102

El Paso TX 79905

Ph: (915) 778-7500

Fax: (915) 778-4583

Web site: www.eptmgt.com

E-mail: rvandenburg@eptmgt.com

Total sq. ft. under mgmt.: 25,947,280

Pct. managed for outside clients: 7%

Officers: Chmn./CEO, TVO Realty Ptrs., Wayne Vandenburg; Pres./CEO, EPT Mgmt. Co., Russell A. Vandenburg; VP, Asset Mgr., Kevin Stasiewicz; Dir., Comm., Musette Bracher

49 The Regional Group of Cos. Inc. 200 Catherine St., 6th Floor

Ottawa ON K2P2K9

Canada

Ph: (613) 230-2100

Fax: (613) 230-9880

Web site: www.regionalgroup.com

E-mail: jgould@regionalgroup.com

Total sq. ft. under mgmt.: 24,500,000

Pct. managed for outside clients: 100%

Officers: Chmn. of the Board, Len Potechin; Pres./CEO, Steve Gordon; SVP, Jeffrey Gould

50 Douglas Elliman-Beitler 181 W. Madison St.

Chicago IL 60602

Ph: (312) 726-1700

Fax: (312) 807-3853

Web site: www.de-beitler.com

E-mail: info@de-beitler.com

Total sq. ft. under mgmt.: 23,381,953

Pct. managed for outside clients: 100%

Officers: Chmn. of the Board, J. Paul Beitler; COO, Lee Shapiro; SVP, Leasing, Gary Denenberg; SVP, Asset Mgmt., Mike Reilly; Mktg. Mgr., Lindy Taggart; Asst. to the Chmn., Jim Wilmouth

To say that Jones Lang LaSalle Inc. is a large organization is an understatement. With 6,400 employees and 700 million sq. ft under management, the Chicago-based real estate services and investment management giant has established a global empire. The numbers support the conclusion: 375 million sq. ft. under management in the Americas; 141 million sq. ft. in Europe, 102 million sq. ft. in Asia, and 82 million sq. ft. in Australia.

So, it comes as little surprise that JLL once again tops National Real Estate Investor's annual Top Property Manager Survey for 2000. Perhaps more surprising is that the total square footage under management by JLL at the end of 1999 was only 20 million sq. ft. higher than at the end of 1998.

"Part of the reason our portfolio hasn't grown as rapidly over the past 12 months as previously is that you have seen a considerable amount of churn in all of the property management portfolios, including ours, where your investors and clients are selling off a significant amount of their portfolios," explains Earl Webb, CEO of the Americas for JLL. "You're replacing it at a rapid rate, but you also are losing it at a rapid rate."

That trend may be about to end, however, as investors seek longer hold periods, adds Webb. And that's not to say that JLL hasn't scored any victories of late.

"Our big win in 1999 probably was Bank One Corp.," says Chip Owen, COO of the Americas for JLL. "We took that assignment from 7 million sq. ft. to 29 million sq. ft. when Bank One acquired First National Bank of Chicago."

Meanwhile, Dallas-based Trammell Crow Co. climbed from No. 3 to the No. 2 spot. At the end of 1999, Trammell Crow reported 517 million sq. ft. under management compared with 405 million sq. ft. at the end of 1998. The company landed several new high-profile assignments in 1999. For example, Microsoft Corp. selected TCC to provide comprehensive facilities management services for its new 515,000 sq. ft. Silicon Valley Campus.

"We are definitely seeing the outsourcing trend continuing," says Diane Tucker, senior managing director for national accounts at TCC. "We still see it as a huge world that is untapped."

Another emerging trend in the property management arena is tenants' demand for high-speed, broadband telecommunications capabilities in their buildings, says Owen of JLL. "Frankly, buildings that don't have it 12 months from now are going to be at a competitive disadvantage."

In terms of growth, Webb points to Latin America, where many U.S.- and foreign-based clients see tremendous demographic opportunities. "They are going there and selling all sorts of products to the emerging middle class in those markets. They have incredible real estate demands."