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Case Study

Producing optimal results and cost savings

Akzo Nobel is a leading global paints and coatings company and a major producer of specialty chemicals. Akzo Nobel wanted to overhaul its retail portfolio by closing poor performers and positioning itself to expand. The decorative paints store portfolio was a recent acquisition without a centralized asset management framework.  Jones Lang LaSalle aggressively negotiated with landlords to buyout the remaining lease term on closed stores and restructured the top store performers by negotiating rent relief in exchange for extensions. Additionally, our team created a deal tracker database to streamline deal activity, which was accessible to Jones Lang LaSalle and the client.

Overall, our team’s successful lease renegotiations resulted in significant cost savings for Akzo Nobel. In less than 60 days, Jones Lang LaSalle generated almost a half million in savings, renegotiated imminent hold over situations, and built a framework for asset management and operations in 50 states. We continue to positively impact this client’s leases through our retail portfolio optimization program.​

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