Jones Lang LaSalle Increases Prominence in Orange County with 360 Commercial Partners Merger
IRVINE, Calif., July 26, 2012 /PRNewswire/ -- Jones Lang LaSalle (NYSE: JLL) today announced that it has merged operations with 360 Commercial Partners, one of Orange County, California's leading real estate services firms. The combined firm will have a commanding presence in Orange County, with greatly enhanced strength and depth of service that will enable the firm to more fully deliver strategic, integrated services and solutions for real estate owners, occupiers and investors.
"The merger of Jones Lang LaSalle and 360 Commercial Partners was driven by client demand for broader and deeper services, as well as the anticipated growth of Orange County," said Peter Belisle, Southwest Market Director, Jones Lang LaSalle. "This is a mutually beneficial merger for 360 Commercial Partners and Jones Lang LaSalle, as well as for our clients, who will now have access to a broader platform and local market expertise from a firm that is the clear leader in capturing real value from real estate."
The merger will deepen mutual strengths and bolster overall service delivery capabilities by:
- Bringing clients significant depth and scale through a range of services, including strong industrial sales and leasing expertise and market-leading mid- and low-rise office building sales capabilities.
- Enhancing Jones Lang LaSalle's already strong tenant representation practice as well as robust landlord leasing and project management capabilities in Orange County.
360 Commercial Partners' clients will benefit from Jones Lang LaSalle's integrated global services platform including its deep resources, cutting-edge tools and broad-reaching connections. Jones Lang LaSalle will gain access to a highly regarded team of professionals with deep local knowledge and penetration, a stellar reputation and extensive client relationships throughout Orange County, the Mid-County Los Angeles area and the Southern California region.
"This alliance of two great companies that are culturally aligned and have fantastic business synergies will create the strongest commercial real estate firm in the region," said Louis Tomaselli, Founder and President, 360 Commercial Partners. "We are now one company that has a shared vision to be the chosen real estate expert and strategic advisors to the leading owners, occupiers and investors throughout Orange County as well as around the world."
360 Commercial Partners' 12 employees will join Jones Lang LaSalle's 860-strong team across Southern California, bringing the total number of employees based in Orange County to 143. Jeff Ingham will lead the office and research and development practice and Louis Tomaselli will lead the firm's Orange County industrial practice.
"By leveraging our strong combined office and industrial capabilities, we will have the opportunity to expand our services, with a focus on growing our landlord leasing and sales capability, strengthening our tenant representation practice and more effectively delivering all of our market leading services to the region. We will now be better prepared to help clients maximize the value of their real estate by anticipating change and seizing opportunities," added Ingham.
Ingham continued by saying this merger is the latest strategic move by Jones Lang LaSalle to grow its Orange County presence. Since November 2011, the firm has added industry veterans James Estrada, Greg Puccinelli and George Thomson to its landlord leasing team. Cameron Driscoll and Luke McDaniel, who previously worked with Tomaselli, also joined Jones Lang LaSalle as senior vice presidents in its industrial team.
"We have experienced firsthand that Louis and his team are premier experts in Orange County," said Belisle. "The growth of Orange County's manufacturing and distribution sector is playing a key role in the region's recovery. We are looking forward to collaborating with our new team members to provide value to our clients and grow Jones Lang LaSalle in the region."
Jones Lang LaSalle has operated in Orange County for more than two decades, managing local transactions and properties on behalf of clients across the region.
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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 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 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 $47.2 billion of assets under management. For further information, please visit www.joneslanglasalle.com.
SOURCE Jones Lang LaSalle