Bally Hires JLL to Manage, Lease 350 Clubs

Though JLL recently announced its merger with Staubach, the deal did not include the latter's retail division. In December, Jones Lang had acquired the assets of the Standard Group, a retail transaction management firm based in Chicago, in December. The company, which transferred its partners over in the acquisition, has worked at outsourcing retail property operations for clients such as T-Mobile, HSBC Bank USA, National City Bank, Nike and Jamba Juice.

Joe Brady, a former Standard partner, will manage the Bally's account and focus on transaction management. Jim Colaianni, an SVP will head up lease administration will head up lease administration while Steve Pollard, managing director, will lead the project management assignment.

Brady says Bally's wants to grow, but needs to shed some work that can be done by professionals. "There are certain retailers out there now looking at outsourcing as the solution, carrying a big overhead just doesn't make sense anymore," he says.

Bill Fanelli, SVP with Bally, seems to agree. "(This) practice will enable us to effectively streamline all of our real estate activities. Our goal is to let them handle our real estate functions, so that we can focus on our mission to improve the health and quality of life of our members through our national network of health clubs," Fanelli said in a statement about the JLL hire.

Brady says since his former firm's acquisition, he's seen JLL more interested in gaining corporate retail work. "We've been expanding HSBC on the West Coast, and continuing our national roll-out of T-Mobile's corporate and dealer stores," he tells GlobeSt.com. "Right now is a great time to be expanding, as the pendulum has swung back and it's become more of a tenant market. Just as companies like Starbucks and J.C. Penney are pulling back, there are those that have the powder dry to take advantage of opportunities."