Skip Ribbon Commands
Skip to main content

News release

MINNEAPOLIS, MN

JLL Property Management Group in Minneapolis/St. Paul Grows Five Fold in Two Years

Firm adds 2.5 million square feet and 9 new staff members since August 2012


Minneapolis, MN, July 14, 2014 – In less than two years JLL’s Property Management division has expanded its portfolio under management substantially, from 400,000 square feet in August 2012 to a current level of 2.9 million square feet. During that time, the property management staff has been expanded to 12 from three.

Todd R. Balsiger, CPM®, CCIM®, Senior Vice President, Property Management at JLL attributes the success to a commitment to relationship building and having a comprehensive platform of management services (property management, accounting and human resources/recruitment) to serve client needs. Based on a variety of different metrics, the goal of JLL and Balsiger to significantly expand their presence in the Minneapolis/St. Paul market is being achieved, though Balsiger admits there is more work to be done:

•  The overall portfolio of managed properties (multi-tenant facilities) has increased from 1.3 to 2.9 million square feet since January 2013 (In August 2012 the portfolio totaled 400,000 square feet)
•  The amount of newly added office space totals just over 1.1 million square feet
•  The amount of newly added industrial space totals more than 665,000 square feet
•  The property management staff has been expanded to 12 from 3, with the addition of one general manager and an assistant general manager, three property administrators and four engineers

“The comprehensive JLL platform is also paying great dividends in transitioning a property from one management team to another,” Balsiger said. “The influx of properties means putting in a lot of hours, but the process is being made easier by a dedicated staff and leveraging the JLL platform that, in part, paved the way for many opportunities to be realized.”

Highlights of buildings being added include:
•  A five-building office portfolio totaling more than 861,000 square feet owned by an undisclosed local investor
•  A three-building, 666,242-square-foot industrial portfolio owned by STAG Industrial
•  A 144,000-sqaure-foot tech center facility owned by Onward Investors

“Todd Balsiger and JLL manage 300,000 square feet of buildings for Onward Investors here in the Twin Cities,” said John Solberg, Senior Managing Director, Onward Investors. “They pay close attention to the details and are very cost conscious, yet our properties are extremely well maintained.  We couldn’t be happier with their performance.”

In connection with the new assignments there have been two promotions: Deanna Kalkman was promoted to General Manager and Brandon Otting was promoted to Assistant General Manager.

In addition to these multi-tenant buildings, JLL also manages an additional 5.9 million square feet of owner-occupied corporate facilities in the Twin Cities region. All told, the firm has more than 8.8 million square feet under management in Minneapolis.

About JLL
JLL (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 fee revenue of $4 billion, JLL has more than 200 corporate offices and operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $48.0 billion of real estate assets under management. JLL is the brand name of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.