PRESS RELEASES

Staubach Co. Signs Lease Renewal/Expansion for 19,000 Square Feet at Hines' 321 N. Clark Street Office Tower

5/25/2005

(CHICAGO, IL) – The Staubach Company has signed a lease renewal/expansion for 19,000 square feet for its regional office at 321 N. Clark St. in downtown Chicago, according to Tom D’Arcy, a vice president at the regional office of Hines, the international real estate firm which is a joint-venture owner of the 850,000-square-foot office tower. Staubach, a leading real estate services firm specializing in tenant representation and headquartered in suburban Dallas, has been a long-term tenant at 321 N. Clark.  The 10-year renewal includes the addition of approximately 6,000 square feet to accommodate continued expansion of Staubach’s Midwest operations, according to Rob Schmidt, a managing principal at the Chicago office.  The 321 N. Clark building is currently 88 percent leased.

The Staubach Company (www.staubach.com) is the market leading global real estate advisory firm that delivers cost-effective solutions for users of office, industrial and retail space. It has extensive experience in strategic consulting, site selection, acquisition, disposition, construction consulting/project management, real estate administration, portfolio management, financing and capital solutions.

Hines is a privately held real estate firm involved in developing, acquiring, leasing and managing real estate. One of the largest real estate organizations in the world with offices in 69 U.S. cities and 12 foreign countries, Hines entered the Chicago market in 1981 with the development of downtown’s Three First National Plaza. Its Chicago-area office portfolio currently tops 8 million square feet.