JLL Adds Sears Veteran Karafotias to Midwest Restructuring Practice
Nick Karafotias is joining JLL as vice president of restructuring, reflecting the firm’s commitment to growing its retail advisory services platform.
CHICAGO, IL—Nick Karafotias, a 30-year industry veteran, is joining Jones Lang LaSalle’s Midwest restructuring team as a vice president working on national engagements.
“We are very excited to welcome Nick to the restructuring team,” says David Spargo, managing director, restructuring services, JLL. “Nick’s time as a former client of JLL and his background with retailers like Sears make him uniquely qualified to serve our retail clients who are looking to restructure their existing real estate portfolios.”
Karafotias joins JLL from Sears Hometown & Outlet Stores, where he was the real estate manager and a JLL client, learning first-hand about JLL’s focus on the customer. During his twelve-year tenure at Sears he also managed new store development, and store planning functions.
JLL uses its expertise in lease and debt restructuring to help retailers improve profitability and cash flow in response to shifting consumer buying habits, rising real estate costs and the continued growth of online shopping.
“As a prior client, I understand the challenges faced by JLL clients in today’s competitive market,” says Karafotias. “I look forward to using my experience to work with clients to achieve their restructuring goals.”
Before joining Sears, Karafotias was a materials manager for Gibraltar Industries, and a senior process consultant with Proudfoot Consulting. He holds a BS in Industry and Technology, Safety emphasis, from Northern Illinois University.