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Jones Lang LaSalle Expands Retail Services In Florida

Stocks in this article: JLL

MIAMI, April 2, 2012 /PRNewswire/ --  Jones Lang LaSalle (NYSE:  JLL) today announced the firm is enhancing the retail services it offers by adding boots on the ground in select local markets across the country, beginning with Florida.  The firm will intensify its resources at the local level, leveraging its Retail Tenant Solutions (RTS) capabilities – formerly known as Corporate Retail Solutions – to provide local market retail tenant representation services.  This complements the firm's already strong landlord services including Retail Capital Markets, Property Management and Leasing.  Commencing immediately, John Lambert, who is based in Orlando, will assume oversight of the firm's retail business throughout Florida, reporting directly to Steve Yenser, National Director of Retail Markets. 

(Photo:  http://photos.prnewswire.com/prnh/20120402/CL80647)

"The Great Recession made it necessary for many landlords and retailers to reduce staff to bare-bones levels and, as the economy is slowly recovering, they do not have the in-house team to take advantage of growth opportunities," said Steve Yenser, National Director of Retail Markets, Jones Lang LaSalle.  "Clients have requested that we provide broader and more locally based resources and this is the next evolution of Jones Lang LaSalle Retail enhancing its retail resources offering at the local market level.  John Lambert is just the man to grow our Florida services, capabilities and team based on his deep knowledge of the market and the services our clients need." 

In addition to retail leasing for landlords and tenants, the firm's RTS team will continue to provide comprehensive outsourced retail tenant capabilities as it has done for more than 12 years under the leadership of Jones Lang LaSalle's Lew Kornberg.  RTS services include market planning, research and strategy, new site acquisition oversight and development as well as asset management/portfolio optimization services at the national level.

"The enhancement and expansion of local market retail services enables Jones Lang LaSalle to provide a fuller suite of services to national and local clients – both landlords and retailers," said Lambert, Senior Vice President, Director of Retail Services, Jones Lang LaSalle.   "We will now be better positioned to satisfy our clients' desire for a more robust, end-to-end solution for all their retail real estate requirements including property management and leasing and our ability to help retailers execute their local level new site acquisition mandates." 

In Florida, the firm currently leases and/or manages nearly 20 assets totalling more than five million square feet of space in Jacksonville, Miami, Orlando, Tallahassee and Tampa. 

"In the past, Jones Lang LaSalle focused solely on leasing and managing traditional malls; now more and more owners are asking us to bring our expertise and best practices to other aspects of retail," said Greg Maloney, President and CEO, Jones Lang LaSalle Retail.  "Since broadening our platform we have grown our third-party portfolio to nearly 100 million square feet of space and now offer services including accounting, development and construction, leasing and specialty leasing services, property management, receivership services and tenant representation services.  This full-service platform truly allows us to meet the needs of the entire retail industry."

About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 60 countries from more than 1,000 locations worldwide, including 185 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company's investment management business, is one of the world's largest and most diverse in real estate with more than $43 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.

SOURCE Jones Lang LaSalle

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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