X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CINCINNATI-The Procter & Gamble Co. has renewed a facilities and project management contract for its global office portfolio, entailing about 16.5 million sf, with Jones Lang LaSalle. A JLL representative would not comment on the controllable operating expenses for these services, but sources say they should be well more than $700 million for the new five-year contract. The properties managed include offices and technical centers, including the company’s global headquarters here, and includes services such as facilities planning, property management, remodeling and furnishing and employee convenience services.

After handling its own services for years, P&G hired JLL in 2003 to a five-year contract for its then 13.8-million-sf office portfolio in 60 countries, on six continents. Since then, P&G bought Gillette and Wella for more than $57 billion, and added more sf through the purchase, and just general growth. “One of the major reasons for the renewal was the work we had done to integrate the new growth,” says Pete Bulgarelli, a JLL managing director and the client relationship manager for the P&G contract.

Bulgarelli tells GlobeSt.com that P&G was so satisfied with the service that it agreed to start renewal talks a year ago, two years before the end of the contract. “We’re very excited in the confidence that they have shown us. I think there’s great opportunity to continue to improve our game,” he says. His company handles about one billion sf of both facilities and property management, with other clients including Bank of America, Motorola and Whirlpool.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.