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Case Study

Creating real value for clients

JLL & Interpublic Group: A global real estate partnership

Interpublic Group (IPG) is a Jones Lang LaSalle client with global real estate needs. Providing marketing and advertising services to thousands of high-profile clients around the world, IPG requires a real estate partner that understands its business and has the ability to work with IPG’s internal real estate team to craft an occupancy strategy that best equips its multiple agency brands with space solutions to match the changing media landscape.

The IPG/JLL partnership first formed in New York, where it continues to be managed, and encompasses IPG’s agency needs in over 50 markets worldwide each year. In order to best service IPG’s market-specific real estate requirements, each region is overseen by a team of professionals from JLL with extensive knowledge of local conditions and space trends as well as knowledge of the marketing communications industry. The teams meet regularly with IPG’s internal corporate real estate specialists to ensure compliance with company policies, goals and objectives, and to consistently improve upon the methods and procedures for fulfilling assignments. This collaborative approach ensures that IPG’s strategic directives are enacted in a timely and compliant manner.

In the constantly evolving world of marketing communications, flexibility remains an essential requirement for the IPG real estate strategy. Additionally, having a creative work environment with space that stimulates fresh thinking is key to agency culture. As such, JLL has worked with IPG to develop and implement a sophisticated leasing plan that allows the firm the ability to better manage continuously evolving space requirements as well as price sensitivities, and to accommodate client needs as account mixes shift.

In New York, JLL collaborated with IPG to develop a hub strategy, eventually resulting in major colocation assignments in four main Manhattan buildings. This approach required a comprehensive period of planning in which numerous factors were scrutinized including potential locations, space availabilities, lease expiration dates, and company-wide real estate parameters. In addition to the real estate factors that impact locational decisions, the JLL team remained cognizant of potential client conflicts between IPG agencies and crafted business-based solutions to address this need.

Key to the success of the IPG/JLL partnership has been the knowledgeable, hands-on, collaborative approach taken by both the corporate real estate professionals at JLL and those internally at IPG. The combined team delivered results which complied with key performance metrics and workplace occupancy strategies–all essential to achieving a successful outcome.

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