JLL’s Valuation Advisory group forms dedicated data center
Stuart Miller promoted to lead the newly formed team due to meet rising demand for data centers by both investors and users
CHICAGO, May 17, 2022 – JLL Valuation Advisory announced today that it has promoted Senior Vice President Stuart Miller to lead a new, dedicated data center practice that is part of the alternative real estate assets experiencing massive demand.
Miller is leading a team responsible for valuations for secured lending advisory, portfolio valuation, financial reporting and purchase price allocations. He has more than five years of experience in valuation and consulting on data centers, with assignments for multiple Fortune 100 technology companies, investors, national banks, lenders and owner-operators.
“Alternative real estate asset classes like data centers have been the darlings of commercial real estate for the last few years, propelling both user and investor demand for data centers to new heights in 2021,” said Tony Lenamon, Americas Head of Valuation Advisory. “Having a dedicated Valuation Advisory group led by Stuart to is allowing us to serve the growing needs of our clients who are already data center owners or looking to be part of this strong-performing sector.”
Based in Dallas, Miller is already hard at work building and training the data center team to continue growing the sector. The team is currently working with more than 30 property national portfolios on behalf of a variety of clients, including international REITs and hyperscale providers.
“So many JLL clients touch the data center sector, and we want to be able to better support those client needs,” Miller added. “Over the past several years, we have seen more and more requests for valuations and advisory services in the data center sector, from enterprise owner-operators looking at dispositions as they migrate to colocation or cloud-based options to investors new to the data center market seeking intelligence on potential new deals and colocation operators opening business in a new market.
“The data center sector touches nearly every business and so many other segments of the real estate industry,” he added. “We needed a dedicated team specialized in the data center sector to meet all these needs and provide the insight our clients are looking for.”
Miller and his team are part of JLL’s broader data center and real estate picture, providing more than appraisals but acting as advisors in risk assessment and providing market intel for an alternative real estate asset class that is rapidly gaining investor interest. Recently, JLL Research released its Data Center Outlook that discusses the global construction pipeline for new data center space along with new sustainability strategies operators are employing.
JLL Valuation Advisory is the essential guide to the changing face of real estate values and risk. The group brings together unrivalled human intelligence and experience, with continuous, data-driven insights to uncover a panoramic view of Value and Risk across sectors and geographies.
JLL’s 2,000 qualified valuation professionals are connected across more than 50 countries, sharing insights and real-time data to deliver tailored client solutions and advice for its clients’ real estate and business asset interests. The team is globally connected but also maintains sector-based expertise and deep local knowledge in every market.
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U.S. property valuation and tax consulting services are performed by JLL Valuation & Advisory Services, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.