Steve Carulli and Nick Stanisis, joint managing directors of NSC, will join JLL with the same title. Former managing director Graham Kennedy, who helped negotiate the acquisition, will become the national head of advisory.
A JLL spokeswoman tells GlobeSt.com that the firm already manages 150,000 sm (about 1.6 million sf) in West Australia. NSC leases, sells and manages properties, such as the Colonial Building in Perth. Cushman & Wakefield had been a partner of NSC before the acquisition.
Christine Bartlett, JLL's chief executive officer in the area, said in a statement that the purchase is a perfect fit. "The West Australian economy has seen 7% growth over the year to September 2006," she said. "We expect an anticipated 60% increase in revenue from the state."
The spokeswoman says this is the fifth acquisition for JLL in 2006, following purchases of Boston-based Spaulding & Slye in January, Rogers and Chapman (based in the UK) in May, the Dubai-based RSP Group and "areAZero" in Spain, the latter two deals closing in September.
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