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Midwest commercial real estate market continues to improve
CHICAGO, Sept. 10, 2013 — The retail market in America’s breadbasket remains hearty. Driven by Chicago’s job creation and population growth, the economically balanced region is expected to show improvement this year and well into 2014. As owners and occupiers continue to use an outsourced model for their retail real estate needs, Jones Lang LaSalle has strengthened its Midwest operations to meet the growing demand. Larry Kilduff, recently appointed Senior Vice President, will now lead the firm’s Midwest Retail platform based in Chicago.
“During the last few years we’ve advanced our retail practice in key regions across the country to provide enhanced and expanded services to our clients on a local, national and global front. The appointment of Larry to his new role furthers our commitment to being the premier provider of retail management, leasing, tenant representation and capital markets in the region,” said Greg Maloney, President and CEO, Jones Lang LaSalle Retail.
“The continued expansion of our Retail group in the Midwest Region is a key component of our overall growth strategy,” said Dan Ryan, Central Region Markets Director for Jones Lang LaSalle. “With his extensive experience, collaborative spirit and client-centric mindset, Larry is perfectly suited to lead this effort.”
Kilduff’s 25-year career involves every aspect of retail real estate with a proven track record of success in operations, acquisitions, development, asset management, government relations, dispositions and workouts. Prior to JLL, Kilduff owned and operated two retail real estate development companies and worked with leading retailers including Wal-Mart, Target, Kmart, Sears, Bon-Ton, Kohl’s and JCPenney. Kilduff is an active member of ICSC and is the recipient of numerous awards including the prestigious ICSC Trustee’s Distinguished Service Award.
Currently more than 200 employees support the Jones Lang LaSalle’s Midwest Retail platform. Collectively, the Midwest Retail team manages 28 properties comprised of 12 million square feet and last year their lease transactions totaled $51 million.
Jones Lang LaSalle Retail is a full-service provider of retail services nationwide. The firm offers a full array of services to its clients, including brokerage services for landlords and tenants, property management, financial reporting, tenant coordination, specialty leasing, marketing, research, development and receivership services. To support its portfolio’s growth, the firm has added 30 experts in strategic local markets during the last two years. For more information on Jones Lang LaSalle Retail, visit www.jllretail.com.
For more news, videos and research resources on Jones Lang LaSalle, please visit the firm’s U.S. media center Web page. Bookmark it here: http://bit.ly/11so3pe
About Jones Lang LaSalleJones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management.
For further information, please visit www.jll.com
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