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Acquisition makes JLL a top agency leasing firm in Seattle
SEATTLE, Jan. 13, 2017 – JLL (NYSE: JLL) significantly bolstered its agency leasing capabilities in Seattle with the acquisition of Urbis Partners, a highly regarded woman-owned commercial real estate company. The acquisition is consistent with the firm's overall growth strategy to become a leading real estate services provider in Seattle and will complement the March 2016 acquisition of Washington Partners' Seattle office.
"Urbis Partners is very well respected by Seattle's institutional investors and will bring some of the market's best and brightest talent to JLL. Their experts have existing relationships with several of our current clients and JLL brokers throughout the Seattle-Bellevue area, so we anticipate a seamless transition. We are eager to welcome them to the team," said JLL Market Director Joe Smurdon.
Effective immediately, Urbis Partners owners and Principals Lisa Stewart and Cleita Harvey, along with Principal Jim Allison, are joining JLL as Managing Directors. However, Stewart's additional leadership responsibilities will include oversight of the Puget Sound agency leasing group, which is comprised of 11 professionals.
At the time of the acquisition, Urbis Partners represented nearly 4 million square feet of Class A office space in the Seattle Central Business District. The newly combined portfolio puts JLL in one of the top agency leasing positions in Seattle.
"Our decision to join JLL was driven primarily by the needs of our clients. The decision to pursue this opportunity was fairly easy, as we've always held JLL in high regard and we feel our clients will benefit greatly from their national network, full-service platform and best-in-class service. We are excited to be associated with a firm with such a stellar reputation for executing work on behalf of its clients," said Stewart.
Smurdon continued, "Seattle is one of the hottest markets in the country. Our growth here is in direct response to our clients' desire for more comprehensive levels of service in this changing market. We're in a great position and we will continue to strategically shape the organization to drive future growth."
Across the Puget Sound region, JLL provides a broad platform of specialized real estate services including landlord and tenant representation, capital markets, project and development services, corporate solutions and property management. It serves all of the main commercial real estate sectors including office, retail, industrial, hospitality and multifamily markets as well as specialized segments such as data centers, healthcare and life science facilities.
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. JLL is a Fortune 500 company with, as of December 31, 2015, revenue of $6.0 billion and fee revenue of $5.2 billion, more than 280 corporate offices, operations in over 80 countries and a global workforce of more than 70,000. On behalf of its clients, the company 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. As of September 30, 2016, its investment management business, LaSalle Investment Management, has $59.7 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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