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Scott Kaplan and Erik Westedt join the firm as brokerage executives
LOS ANGELES, April 29, 2016 – JLL today announced the firm has hired Scott Kaplan as an Executive Vice President and Erik Westedt as a Senior Vice President to expand its Southern California Retail practice. Kaplan and Westedt bring a combined a 35-year track record in the leasing, development and sale of retail properties locally, regionally and nationally. Throughout their career, the pair has completed transactions encompassing 25 million square feet of retail space valued at more than $5 billion.
"Southern California retail rents continue to rise and net absorption is stabilizing, leading more investors to eye the market. We've seen an uptick in client demand for superior leasing and investment sales expertise," said Peter Belisle, Southwest Market Director, JLL. "Scott and Erik are two premier brokers in the market and they will provide tremendous value to our clients who are looking at the West Coast as a hub for expansion and investment."
The hiring of Kaplan and Westedt is the most recent move by JLL to expand its retail platform. In the last year, JLL has grown its retail brokerage business across major markets and acquired HMS, Inc., Wilson Retail Group, Shelter Bay Retail Group, Martin Potts & Associates, Inc., and Big Red Rooster to deepen its talent bench. Earlier this year, the firm also hired Houman Mahboubi, Los Angeles' premier high street retail expert.
"In less than a year, we've gone from a handful of Southern California retail brokerage experts to a full-fledged platform. We're able to now offer clients leasing, investment sales and tenant representation support from Los Angeles to San Diego, and the addition of Scott and Erik allows us to provide expanded expertise and depth in the Inland Empire and Orange County," said Naveen Jaggi, President of Retail Brokerage, JLL. "Scott and Erik have a results-driven reputation and track record in providing real estate solutions to institutional landlords and retailers."
Kaplan joins JLL with more than 20 years of experience in the retail real estate industry. Prior to JLL, he was a Senior Vice President at a global commercial real estate firm. Prior to entering the commercial real estate world, he was the co-owner of a chain of Hallmark stores in the Chicago area. Kaplan holds a bachelor's degree - Cum Laude from the University of Iowa. He also serves as a member of the International Council of Shopping Centers (ICSC) and founding member of Chino Hills Foundation Board.
Westedt joins JLL with nearly 15 years of experience. He previously served as a Vice President at a global commercial real estate firm. Westedt earned a master's degree from California State University, Fullerton. He is actively involved in ICSC.
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 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. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 230 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $56.4 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.