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Wade Tift, Nick Carey and Byron Foss join firm as Executive Vice Presidents to work with tenants and landlords
IRVINE, CALIF., July 10, 2017 – Looking to expand its industrial expertise in Southern California, JLL today announced the firm has hired Wade Tift, Nick Carey and Byron Foss as Executive Vice Presidents. Joining from an international commercial real estate advisory firm, the trio will specialize in working with landlords and tenants on their industrial real estate needs in Orange County. Collectively, the team has completed more than eight million square feet of transactions valued at $600 million since 2009.
"The Orange County industrial market is extremely tight with one of the lowest vacancy rates in the nation and very little new construction on the horizon," said JLL Senior Managing Director Jeff Ingham. "Wade, Nick and Byron are three of Orange County's premier industrial brokers who will provide tremendous value for our clients."
According to JLL's Industrial Outlook 2017, the Orange County industrial market saw average asking rents set new historic highs and vacancy reach record breaking lows in the first quarter of 2017. The report also mentions that existing tenants are signing early renewals and tenants looking for space are trying to outbid one another by placing multiple offers on Class A and B product, providing landlords leverage to push for higher start rents.
Tift joins JLL with 17 years of experience in industrial real estate. He holds a bachelor's degree in Sociology with a minor in business from University of California at Los Angeles.
Carey joins JLL with 13 years of experience in industrial real estate. He holds a bachelor's degree in Political Science from University of California, Los Angeles and is LEED AP accredited.
Foss joins JLL with 11 years of experience in industrial real estate. He earned a bachelor's degree in Psychology from Southern Methodist University and holds the MCR designation from CoreNet Global.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0 billion of real estate under asset 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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