Acquisition will meet growing need for expanded, specialized project and construction management services in West
To meet the demand of increasing development and redevelopment activity in California, JLL (NYSE: JLL) has entered into an agreement to acquire Martin Potts & Associates, Inc., a leader in project and construction management services for retail, hospitality, healthcare and office properties. The transaction will enable JLL to strengthen its multi-service platform and build on the recent acquisitions of CLEO Construction Management, Shelter Bay Retail Group and Wilson Retail Group, which have expanded its project management and retail services expertise as part of JLL’s disciplined acquisition strategy. The acquisition is expected to close this month subject to customary closing conditions.
Founded in 1991 by president Marty Potts, Orange County-based MPA, with offices in Newport Beach and San Jose, Calif., is a recognized leader in providing project management, construction management, tenant coordination and entitlement for new construction, renovations and value-add opportunities across multiple industries. After joining the company in 2005 as a partner, Greg Holcomb worked with Potts to develop MPA into a highly-regarded development services firm with a staff known for their strong work ethic and commitment to client service.
“Greg and I are confident that joining JLL is the best way for us to continue to grow, provide career opportunities for our employees and offer expanded services to our clients,” said Potts. “We are proud of the company we built over the last 25 years and the relationships we have developed with our clients. Looking ahead, we expect to contribute to an already strong platform at JLL.”
A total of 11 people from MPA, including Potts and Holcomb, will join JLL and play integral roles in the 200-strong Project and Development Services team in the Southwest that is led by Carlos Serra. JLL’s PDS group, an industry leader in the management of design, construction and relocation services for a wide range of projects from interior build-outs to multi-site developments, manages more than 24,000 projects annually in the U.S., including $12 billion in projects currently under management.
“MPA’s deep expertise in project and construction management makes it a compelling addition to help JLL meet the opportunities that Orange County’s growth presents for the project management sector and, especially, for retail properties,” said Peter Belisle, Market Director for JLL’s Southwest Region. “We welcome our new colleagues to JLL and look forward to our clients tapping an expanded group of experts who share our commitment to integrity, excellence and high quality services.”
To read the original press release, click here
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: bit.ly/18P2tkv