Jones Lang LaSalle Expands in the Carolinas by Merging Operations With Keystone Partners in Charlotte

CHARLOTTE, N.C., March 22, 2011 /PRNewswire/ -- Jones Lang LaSalle today announced that it has merged operations with Keystone Partners, one of North Carolina's leading integrated real estate services firms.  The four partners who founded Keystone Partners in 2001 — Chase Monroe, Brad Cherry, Pete Pittroff and Jim Thorp — will join Jones Lang LaSalle along with 12 additional staff in Charlotte, NC, effective immediately.  The comprehensive services Keystone Partners provides include agency leasing, investment sales, project management, tenant representation, consulting and property management for office and industrial properties.

"Bringing Keystone Partners into our firm is a key step in our strategy to increase our market share in the Carolinas and provide our clients with a broader, superior local service offering," said Dave McGarry, Managing Director Markets East at Jones Lang LaSalle.  "Adding the strong local market knowledge and experience of Keystone Partners to the broad expertise we already have in place in the Carolinas bolsters our position as a commercial real estate leader in the region and enhances our ability to provide clients with the best service.  We are confident that the combination of the two firms will create a powerful team."

The transaction will expand Jones Lang LaSalle's already 250-strong team that provides office leasing, facility management, project management, retail leasing and management, and investment services.

Chase Monroe will assume the role of Market Director and lead the overall business in the Carolinas while also managing the brokerage business in Charlotte.  Jones Lang LaSalle's Austin Koon will continue to lead the brokerage business in the Raleigh market.

"As the commercial real estate landscape continues to change across the country, it will be critical to be able to provide clients multiple services at a high level," said Chase Monroe.  "By teaming with Jones Lang LaSalle, we will be able to leverage a more extensive platform and deeper resources for our existing clients, as well as expand the scope of our client base. These broader capabilities and our common approach to client service make this an exciting move for our team."

Chase Monroe has more than 20 years of commercial real estate experience and has earned both the CCIM and the SIOR designations. He specializes in tenant representation, lease restructuring, site selection, acquisition, disposition and consulting for office clients. In 2005, he was named by the Charlotte Business Journal as one of the city's 'Top 40 Influential People under 40'.  Monroe is a Past-President for the Charlotte Region Commercial Board of Realtors and is a graduate of the University of Virginia.

Brad Cherry is involved in all aspects of industrial real estate including investment sales, agency leasing, tenant representation and fee development. In Mecklenburg County alone he has completed over 1,300 industrial real estate transactions. Cherry also fee-developed more than 1.2 million square feet of industrial property. Additionally, he has earned the SIOR designation and has been honored as the top producer in Charlotte by the CRCBR where he currently serves on the Board.

Pete Pittroff specializes in industrial property including investment sales, tenant representation and project leasing. Pittroff and Cherry have leased or sold 40 million square feet of industrial property in the last decade. He is a graduate of the University of Virginia, is on the Board of the Charlotte Region Commercial Property Exchange and has earned the SIOR designation.

Jim Thorp specializes in tenant representation, lease restructuring, site selection, acquisition, disposition and consulting for office clients. Thorp has represented corporate clients across the United States for over 20 years. Thorp is a graduate of the University of North Carolina at Chapel Hill and has earned the SIOR designation.

Chris Schaaf and Bryan White round out Keystone Partners's office tenant representation team while Charley Leavitt focuses on office agency leasing. Rob Speir and Spencer Yorke are on the industrial team. Property management is led by Craig Garrison, Mimi Fisher, Mary Bonelli and Keystone Partners's CFO, Darrell Murray.

Long-time employees Shannon Teel, Jessamy Huckel and Matt Russell direct Keystone Partners's marketing, branding, information technology and administrative efforts.

Jones Lang LaSalle has operated in the Carolinas since 1999, managing local transactions and properties on behalf of clients headquartered across the region from its offices in Charlotte and Raleigh. Its property expertise ranges from corporate headquarters to data centers and from industrial properties to bank branches.  Additionally, Stuart Hicks, CEO of the firm's Corporate Solutions group, and Mike Longmore, who manages the firm's Open Air Retail division, are both based in Charlotte.

About Keystone Partners

Keystone Partners is a provider of real estate services for institutional and corporate customers. Incorporated in 2001, the company is headquartered in Charlotte, NC and has clients throughout the region and country. With more than 90 years of combined experience, the company's partners have a superior reputation for results and exemplify strong leadership within the commercial real estate industry and the community. Keystone offers a full range of property services including tenant representation, investment sales, agency leasing, property management, construction management, financial analysis, and consulting. The firm's expertise is focused on office and industrial real estate.

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 $41 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.

SOURCE Jones Lang LaSalle