PALO ALTO, CA-Jones Lang LaSalle has opened a Silicon Valley office for the first time and stoked with Scott Mathisen, a top producer in the Valley for the past 16 years. As managing director, Mathisen will lead the new office with Erich Sengelmann, who heads up JLL’s Northern California brokerage and consulting units.

JLL’s expansion plans for the Bay Area were first reported on GlobeSt.com in July. At that time, Sengelmann told GlobeSt.com that the regional expansion follows the significant growth in the firm’s local business, growth it expects to continue. Since July 2005, the firm has expanded its management portfolio by more 10 million sf and added two big name corporate clients.

Its property management business now totals more than 31 million sf and its corporate clientele includes Sun Microsystems, Cisco Systems, Solectron, VeriSign, Synopsys, Kaiser Permanente and Wells Real Estate Funds. “We’ve got great momentum and very ambitious plans,” Sengelmann told GlobeSt.com in July. He was not available Friday to discuss the size and the length of its lease commitment.

The new office, located at 1900 University Circle in East Palo Alto, is JLL’s second Bay Area office. The other is at One Post Street in Downtown San Francisco. Mathisen comes to JLL from CB Richard Ellis, where he has been for the past 16 years, most recently as senior vice president. Major sales assignments have included Santa Clara Gateway, Regency Plaza and San Tomas Business Park.

The opening of the Silicon Valley office also will allow for the continued West Coast expansion of the firm’s capital markets business in Northern California. In September, JLL made two key additions to its capital markets team. Dave Christensen, most recently a vice president and regional manager with Fremont Investment & Loan, is now executive vice president of the San Francisco Capital Markets Group, in charge of launching the West Coast expansion of JLL’s real estate investment banking franchise. In addition, JLL vice president Rob Hielscher shifted to the San Francisco Capital Markets Group from Chicago.

Led by Michel Seifer, the local Capital Markets team is on pace to complete over $1 billion in capital markets transactions in 2006. Significant deals this year included the $215 million sale of Sun Microsystems Newark campus, Wind River 201 Moffet Park in Sunnyvale and Great America Plaza in Santa Clara.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.