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Retail brokerage veteran joins JLL as Vice Chairman to expand New York brokerage service
NEW YORK, Oct. 27, 2015 — JLL makes another bold recruiting move with the addition of industry veteran Patrick Smith as Vice Chairman in the firm’s New York brokerage business. Smith has been serving retailers and investors operating in the New York region with a broad range of retailer representation, agency leasing, development and property management counsel for 23 years.
JLL’s New York President Peter Riguardi says Smith’s addition is part of JLL’s strategic growth plan for its local and national retail brokerage business. “We continue to invest in top talent across our New York business. Patrick’s skill and experience will be an asset to our clients, significantly advancing our local and international retail brokerage capabilities,” said Riguardi.
Smith’s arrival is the second major retail coup for JLL following the addition of Vice Chairman Robert Gibson to drive the expansion of the firm’s retail brokerage business in Manhattan in April 2014. JLL has been actively recruiting top retail brokerage talent around the nation, and has added 40 new retail brokers to its national team in the past eight months. The firm is already the largest third-party retail property manager in the United States.
“Bringing Patrick onboard supports our goal to be a leading retail brokerage firm in New York City, and expands our capabilities in a top U.S. market, adding significant opportunity to the firm’s services locally, nationally and globally,” said Naveen Jaggi, President Retail Brokerage, JLL. “Patrick has incredible credibility in the market, and embraces and promotes strong principles of business, a pillar of our company culture.”
Smith brings a wealth of knowledge in all facets of retail brokerage, management, capital markets and operations to JLL. He represents many top retailers and has led the expansion of brands in the most significant leasing transactions in New York’s urban core, and beyond into the boroughs and Long Island.
“Patrick’s decision to join JLL is a testament to the momentum the firm continues to build across its retail practice and among brands at the local, national and global level,” said Phil Palmer, Executive Managing Director of JLL New York Brokerage. “Our latest strategic move further reinforces the strength of our platform and the commitment to our retailer and investor clients.”
Smith also holds a number of awards including the Real Estate Board of New York “Most Creative Deal of the Year” Award Winner in 2007; has been named a Co-Star Power Broker 2006, 2007, 2010, 2011, 2012; was the Greendeal “Retail Deal of the Year” Award Winner in 2007, and is a Multi-year Staubach Retail Solutions Top Achiever & Top Producer Award Winner. He serves on the Stores Committee for Real Estate Board of New York (REBNY), is an active retail consultant to the Grand Central Partnership and has served the International Council of Shopping Centers (ICSC) as the Chairman of the 2012 New York Convention.
JLL is a leader in the New York tri-state commercial real estate market, with more than 2,000 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2014, the New York tri-state team completed approximately 22.8 million square feet of lease transactions, arranged investment sales transactions valued at more than $5.4 billion, managed projects valued at $7.6 billion, and oversaw a property management, facilities management and agency leasing portfolio exceeding 163 million square feet.
JLL’s retail business serves as an industry leader in retail real estate services. The firm’s more than 800 dedicated retail experts in the Americas partner with investors and occupiers around the globe to support and shape investment and site selection strategies. Its retail specialists provide independent and expert advice to clients, backed by industry-leading research that delivers maximum value throughout the entire lifecycle of an asset or lease. The firm has more than 130 retail brokerage experts spanning more than 30 major markets, representing more than 680 retail clients. As the largest third party retail property manager in the United States, JLL is currently handling the management, leasing and/or disposition of more than 710 centers, totaling 83 million square feet specializing in regional malls, lifestyle centers, grocery-anchored centers, power centers, central business districts, transportation facilities and mixed-use projects. For more news, videos and research from JLL’s Retail Group, please visit: www.jllretail.com.
About JLLJLL (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. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $56.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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George Shea, Mark Faris