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NEW YORK CITY-Gramercy Capital Corp. has given the property management assignment for 14.5-million square feet of commercial real estate across the US to Jones Lang LaSalle. The three-year arrangement encompasses 400 office buildings, bank branches and operation centers across the country, and expands from JLL’s current management of eight million square feet for Gramercy, which it’s done since 2003.

The expansion of the assignment covers primarily the Northeast and Florida, where JLL will manage approximately 6.5 million square feet of office buildings and bank branches.JLL’s team is headed up by managing director John Wheeler, and includes Peter Riguardi, president, and Robert Hackett, regional director, all with its New York office. Chicago-based Richard McBlaine, international director of solutions development, will provide strategic support, according to a release.

Riguardi says in a release that Gramercy “challenged our team to develop creative ways to enhance JLL’s service delivery, and to maximize efficiency and accountability across the JLL-managed portfolio. The company recognized that our professionals understood and shared their strategic objectives, and we collaborated on a plan to substantially improve its bottom line.”

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