As consumer confidence continues to climb and economic prospects for retailers improve, JLL (NYSE: JLL) is getting a big boost to its retail business by acquiring Wilson Retail Group, a leading, independent retail brokerage and capital markets firm in Southern California. The transaction will enable JLL, already the nation’s largest third-party retail property manager, to provide a broader range of brokerage and investment sales services to retailers and investors in a core urban gateway. The transaction closed for an undisclosed sum.
Founded by Principal Chris Wilson, in partnership with President Scott Burns, the Los Angeles, California-basedWilson Retail Group is a recognized leader in serving as owners’ and retailers’ representatives by providing fully integrated retail services to the biggest players in the industry.
“Wilson Retail Group is an excellent fit for our expanding retail brokerage business. This team is the No. 1 retail agency leasing group in the region and currently represents nine million square feet of retail space in 75 shopping centers, and the firm’s investment sales team has $125 million of retail assets on the market,” said Peter Belisle, Market Director for JLL’s Southwest Region. “Joining forces with Chris and Scott’s team will increase our ability to create additional value for clients, identify opportunities for growth and win more business together in the retail sector.”
A total of 16 people from Wilson Retail Group will now become a part of JLL. Chris Wilson will now serve as Executive Vice President, Southwest Brokerage Lead, JLL Retail. Scott Burns will serve as Executive Vice President, Retail Brokerage Lead for JLL’s Los Angeles office. Geoff Tranchina will join as Executive Vice President, Investment Sales.
“This is the right time for our independent shop to join an enterprise that can offer our clients a broader array of services and opportunities, while keeping our commitment to personalized client service and a culture of collaboration,” said Wilson. “We’re changing our flag, but we will continue operating out of our recently opened West Los Angeles office location as an expanded team with our new JLL retail colleagues.”
The new Wilson executive team will report to Belisle, and partner closely with Naveen Jaggi, President of JLL’s Americas Retail Brokerage business.
“To win in retail brokerage, we needed a strong foothold in the Los Angeles and Orange County markets. The Wilson team will join Craig Killman, our retail broker lead in San Diego, to become the super-regional retail powerhouse in Southern California,” added Jaggi. “Additionally, we admire the firm for its professionalism, integrity, ethics and entrepreneurial spirit and felt that those traits match the way we do business.”
JLL’s Retail Group serves as the industry’s leader in retail real estate services. The firm’s more than 800 dedicated retail experts in the Americas partner with investors and occupiers around the globe to support and shape investment and site selection strategies. Its retail specialists provide independent and expert advice to clients, backed by industry-leading research that delivers maximum value throughout the entire lifecycle of an asset or lease. The firm has more than 100 retail brokerage experts spanning more than 25 major markets, representing more than 550 retail clients. As the largest third party retail property manager in the United States, JLL’s retail portfolio has more than 500 centers, totaling 69 million square feet under management in regional malls, lifestyle centers, grocery-anchored centers, power centers, central business districts, transportation facilities and mixed-use projects. For more news, videos and research from JLL’s Retail Group, please visit: www.jllretail.com.
Read more about the acquisition in the news:
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Chain Store Age: JLL acquires retail brokerage firm Wilson Retail Group
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