(RealShare Orange County convenes at the Hyatt Regency, Irvine, August 16.)
IRVINE, CA-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement yesterday, but GlobeSt.com has learned that Jones Lang LaSalle has merged operations with 360 Commercial Partners. According to a prepared statement, “The combined firm will have a commanding presence in Orange County, with greatly enhanced strength and depth of service that will enable the firm to more fully deliver strategic, integrated services and solutions for real estate owners, occupiers and investors.”
According to Peter Belisle, southwest market director of JLL, the merger was driven by client demand for broader and deeper services, as well as the anticipated growth of Orange County. “This is a mutually beneficial merger for 360 Commercial Partners and Jones Lang LaSalle, as well as for our clients, who will now have access to a broader platform and local market expertise from a firm that is the clear leader in capturing real value from real estate.”
According to Louis Tomaselli, founder and president of 360 Commercial Partners, the alliance of two companies that are “culturally aligned and have fantastic business synergies will create the strongest commercial real estate firm in the region. “We are now one company that has a shared vision to be the chosen real estate expert and strategic advisors to the leading owners, occupiers and investors throughout Orange County as well as around the world.”
The merger will deepen mutual strengths and bolster overall service delivery capabilities by “Bringing clients significant depth and scale through a range of services, including strong industrial sales and leasing expertise and market-leading mid- and low-rise office building sales capabilities; and enhancing JLL’s already strong tenant representation practice as well as robust landlord leasing and project management capabilities in Orange County,” according to a prepared statement.
360 Commercial Partners’ 12 employees will join JLL’s 860-strong team across Southern California, bringing the total number of employees based in Orange County to 143. Jeff Ingham will lead the office and research and development practice and Tomaselli will lead the firm’s Orange County industrial practice.
“By leveraging our strong combined office and industrial capabilities, we will have the opportunity to expand our services, with a focus on growing our landlord leasing and sales capability, strengthening our tenant representation practice and more effectively delivering all of our market leading services to the region. We will now be better prepared to help clients maximize the value of their real estate by anticipating change and seizing opportunities,” Ingham adds.
Since November 2011, JLL has added industry veterans James Estrada, Greg Puccinelli and George Thomson to its landlord leasing team. Cameron Driscoll and Luke McDaniel, who previously worked with Tomaselli, also joined Jones Lang LaSalle as senior vice presidents in its industrial team.
“The growth of Orange County's manufacturing and distribution sector is playing a key role in the region's recovery,” says Belisle.
Jones Lang LaSalle tells GlobeSt.com that it cannot get us any further information by deadline and we will update the story as we learn more.
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