World’s leading real estate services and money management firm, Jones Lang LaSalle Incorporated , announced the acquisition of the assets of foremost retail transaction management firm, the Standard Group, based in Chicago.
The Group’s comprehensive portfolio advisory, site selection and rollout services will bolster Jones Lang LaSalle’s nationwide retail services that include multi-site project management and facility management for retail stores as well as leasing, management and advisory services for 150 retail properties.
“This acquisition, which will add significant depth to our retail transaction management capability, is consistent with our strategy of reinforcing our leadership in key markets across the country and in all aspects of real estate services,” said Peter Roberts, Chief Executive Officer of Jones Lang LaSalle Americas. “The addition of The Standard Group strengthens our ability to meet growing demand from retail clients for comprehensive transaction management services.”
“Jones Lang LaSalle provides the perfect complement to The Standard Group’s transaction business and allows our clients to leverage a far greater platform of services,” said Lew Kornberg, Managing Director of The Standard Group. “The retail real estate outsourcing business has changed dramatically since we founded our firm over seven years ago. Now clients are looking for the broader suite of services that Jones Lang LaSalle offers.”
“As the largest third-party manager of retail properties in the U.S., we come in contact with hundreds of retailers every day. They’ve been asking us to offer more comprehensive retail real estate services and, now, Jones Lang LaSalle will have a complete outsourced offering for leading retailers, “said Greg Maloney, CEO and President of Jones Lang LaSalle Retail.