New York, April 3, 2012

For Immediate Release

CLARION PARTNERS ACQUIRES OFFICE BUILDING IN DOWNTOWN SEATTLE FOR $137 MILLION

NEW YORK – Clarion Partners, a leading real estate investment manager, has acquired 1600 Seventh Avenue, a 32-story, 598,000 square foot office property in downtown Seattle, Washington for $137 million, it was announced today. The purchase was made on behalf of a separate account client of the firm in an off- market transaction. Clarion acquired the building from CenturyLink, formerly known as Qwest Communications. CenturyLink and its predecessor companies have continuously occupied the property since it opened in 1976 and will remain as a tenant in approximately 260,000 square feet. A Newmark Knight Frank Frederick Ross team led by Victor Frandsen, Tim Harrington, and Alan Polacsek represented CenturyLink in the sale, in conjunction with Eastdil Secured. The NFK team also represented CenturyLink in the new lease negotiated with Clarion Partners. Simultaneous with the purchase, Clarion announced that , Inc. has committed to a long-term lease for over 300,000 square feet, bringing the occupancy of the property to 88%. The company expects to start moving into its new location beginning in fall 2012. Urban Renaissance Group, LLC represented Clarion in the transaction and will serve as the local operator of the asset going forward. Following the acquisition, Clarion and Urban Renaissance Group plan a significant renovation of the property, updating the common areas, including the main lobby, and adding ground level and underground parking. “We are thrilled to have been able to secure such high quality companies as Nordstrom and CenturyLink as tenants,” said Stephen P. Latimer, Managing Director at Clarion Partners. “We look forward to rejuvenating the building with

the renovation and bringing in additional retail uses in this key location in the city.” Located in the heart of the central business district, 1600 Seventh Avenue is easily accessible by public transportation, sits two blocks from the downtown Seattle Nordstrom store and Nordstrom Rack store and is within walking distance of many of the city’s leading retailers, restaurants, and hotels, as well as the Washington Convention Center. This marks the second acquisition by Clarion in the Seattle area this year, following on its $31 million purchase in January of Covington Esplanade, a Home Depot anchored shopping center. Clarion now manages over $1 billion of real estate in the Seattle area.

Press Contact: Mike MacMillan/Chris Sullivan MacMillan Communications (212) 473-4442, [email protected]

About Clarion Partners LLC

Clarion Partners has been a leading U.S. real estate investment manager for almost 30 years. Headquartered in New York, the firm has offices in major markets throughout the U.S. as well as a presence in Mexico and Brazil. With more than $24 billion in total assets under management, for over 200 institutional investors both domestic and international, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum.

More information about the firm is available at www.clarionpartners.com.

About CenturyLink

CenturyLink is the third largest telecommunications company in the United States. The company provides broadband, voice and wireless services to consumers and businesses across the country and advanced entertainment services under the CenturyLink™ Prism™ TV and DIRECTV brands. In addition, the company provides data, voice and managed services to business, government and wholesale customers in local, national and select international markets through its high-quality advanced fiber optic network and multiple data centers. CenturyLink also is recognized as a leader in the network services market by key technology industry analyst firms, and is a global leader in cloud

infrastructure and hosted IT solutions for enterprises through Savvis, a CenturyLink company. CenturyLink’s customers range from Fortune 500 companies in some of the country’s largest cities to families living in rural America. Headquartered in Monroe, La., CenturyLink is an S&P 500 company and is included among the Fortune 500 list of America’s largest corporations.

For more information, visit www.savvis.com or www.centurylink.com.

About Nordstrom

Nordstrom, Inc. is one of the nation’s leading fashion specialty retailers. Founded in 1901 as a store in Seattle, today Nordstrom operates 226 stores in 30 states, including 117 full-line stores, 105 Nordstrom Racks, two Jeffrey boutiques, one treasure&bond store and one clearance store. Nordstrom also serves customers through Nordstrom.com and through its catalogs. Additionally, the Company operates in the online private sale marketplace through its subsidiary HauteLook. Nordstrom, Inc.’s common stock is publicly traded on the NYSE under the symbol JWN.

About Urban Renaissance Group

Urban Renaissance Group, LLC is a Seattle-based full-service commercial real estate company, engaged in acquisitions, development, asset management, property management and ownership in Seattle, Bellevue, and Portland. The strategic premise of the Urban Renaissance Group is that the form of the American City will change dramatically during the next 20 years. Urban Renaissance Group acts as a catalyst that understands and ignites that change, thereby generating superior returns for its investors, as well as opportunities for its partners and employees. Learn more at www.urbanrengroup.com.

###