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News release

CHICAGO, IL

Innovative Service Offerings Enhance Middle Market Assets’ Performance

Jones Lang LaSalle’s valued property management services extend beyond trophy assets to mid-size properties and portfolios


CHICAGO, June 26, 2012 – As real estate owners and investors seek solutions to reduce operating expenses while driving efficiencies across their portfolios, integrated service offerings prove to add value – especially to mid-sized portfolios (between 75,000 and 300,000 square-feet) that don’t have the resources and economies-of-scale that larger assets are afforded. By seeking firms that offer integrated and expansive property management services, owners and investors can reduce costs while strengthening service levels for portfolios of all sizes.

“Managing cost-effectiveness and efficiencies for each property can be an overwhelming and distracting administrative burden for owners and investors of value assets,” said Dan Pufunt, Jones Lang LaSalle President of Property Management. “Alternatively, they can choose to pay for effective but expensive dedicated services they don’t entirely need, putting a strain on asset cash flow.”

Due to the size and geographic dispersion of middle-market assets, they find most value in firms with flexible service selections that allow them to pay for only the services they need and that fit their operating cost model.

Jones Lang LaSalle’s Property Management team, which oversees both large class A trophy and middle-market assets, identified specific services and initiatives most valued by middle-market assets: 

  • Strategic Sourcing and Contract Management: Measuring supply and services spend against other potential options proves daunting and time-consuming. By having access to a national supplier network for optimum pricing and services, mid-sized assets enhance their operations, buying power and reduce costs, which can be passed on to the tenants or increase the NOI of a property or portfolio.
  • “Hub- Spoke” Management Strategies: Owners of mid-sized portfolios don’t always have the resources to support full-time property managers or engineers at all of their properties. By leveraging innovative services of a full service commercial real estate firm, owners receive alternative options to have cost-effective solutions to oversee assets. Jones Lang LaSalle’s OneView and Tracker technology platforms offer owners access to digital, real-time information on their properties, allowing them to tap an off-site manager or engineer within a geographic “hub” if services or attention is needed. 
  • Mobile Engineering Services: Consistent facility maintenance, repair and upkeep, and productivity across mid-sized portfolios can be achieved through mobile engineering services that also eliminate the need and expense of a full-time or on-site engineer. Mobile engineering solutions combine industry-leading expertise, high responsiveness and a commitment to reducing costs while ensuring best-in-class service delivery through: proactive inspections and assessment of portfolios; data collection; preventative maintenance programs; operating and performance reporting; and total transparency of workflow process data to ensure real time accessible operational information.
  • Tenant Relationship Program:  The multi-faceted nature of property management oftentimes clouds the relationship between property manager and tenants. With an added value on trustworthy business partnerships, a strong manager-tenant relationship proves a critical element for mid-sized properties to secure multi-term tenants. By having a designated person identified to manage these relationships and drive specific retention programs, each tenant feels valued and as though their properties – the “home” to their business – is cared for.  
  • Right Sized Accounting:  Accurate and timely financial reports are necessary for any sized property. The Jones Lang LaSalle Client Accounting Services team works with owners to right-size their accounting needs to fit their portfolios’ or properties’ scope, while maintaining compliance with all regulations. This approach assures that each asset receives the proper reporting and diligence necessary to achieve the strategy of the portfolio set forth by the investor.

“Reducing costs while still providing exceptional service is a dilemma faced by owners and investors of every asset class, whether it’s a large trophy building or 150,000 square feet of space in a smaller market,” Pufunt said. “We strive to utilize our expertise, our size, and our variable platform to maximize the value of any property, large or small.”

For more news, videos and research resources on Jones Lang LaSalle, please visit Jones Lang LaSalle’s U.S. media center web page.

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.