Jones Lang LaSalle Establishes Prominence in Seattle and Portland with Pacific Real Estate Partners Merger

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By RealEstateRama -

SEATTLE, WA – October 18, 2011 – (RealEstateRama) — Jones Lang LaSalle announces that it has merged operations with Pacific Real Estate Partners, Inc., one of the Pacific Northwest’s leading real estate services firms.  The combined firm will have a leading presence in the Pacific Northwest, with greatly enhanced strength and depth of service capabilities across the region that will directly benefit the clients of both companies.

“The merger of Jones Lang LaSalle and Pacific Real Estate Partners was driven by client demand for broader and deeper services, as well as the anticipated growth of the Pacific Northwest,” said Elizabeth Hearle, Northwest Market Director, Jones Lang LaSalle. “While this is a mutually beneficial merger for Pacific Real Estate Partners and Jones Lang LaSalle, the real beneficiaries are our clients who will now have access to a broader platform and local market expertise from a firm that is the clear leader in the market.”

The merger will deepen mutual strengths and bolster overall service delivery capabilities by:
  • Bringing clients’ significant depth and scale in a range of services, including landlord leasing, investment sales and tenant representation.
  • Creating one of the strongest Capital Markets teams in the region by adding Pacific Real Estate Partners’ deep investment sales expertise to Jones Lang LaSalle’s existing market-leading multi-family investment sales capabilities.
Pacific Real Estate Partners’ 49 employees will join Jones Lang LaSalle’s nearly 400-strong team in the Pacific Northwest.
Throughout the Puget Sound region, which includes Bellevue, Seattle and Tacoma, the combined company will be a powerhouse in the market—Jones Lang LaSalle brings strong local expertise in tenant representation, project and development services and multifamily investment sales, while Pacific Real Estate Partners’ leadership in investment sales, landlord and tenant representation in office, industrial and retail properties is unparalleled.
In Portland, Pacific Real Estate Partners is one of the strongest brokerage firms in landlord leasing, tenant representation and investment sales.  This expertise, coupled with Jones Lang LaSalle’s national platform and deep relationships worldwide, will be a boon for current and prospective clients throughout the market.
Elizabeth Hearle will continue to serve as the Market Director for the Pacific Northwest Region, including Northern California, Oregon and Washington.  Brokerage leadership will consist of Stuart Williams in Seattle, Mark Flippo and Steve Schwartz in Bellevue and Buzz Ellis and Mark McFarland in Portland. Additionally, Stuart Williams, Ann Chamberlin and Lori Hill will lead the Capital Markets Investment Sales practice in Seattle, with David Young and his team of Seth Heikkila and Corey Marx leading the Multifamily Investment Sales practice in the region.  Buzz Ellis and Paige Morgan will lead Capital Markets in Portland.
“This is a coming together of two great companies that are culturally aligned and have fantastic business synergies to create the strongest commercial real estate firm in the region,” said Schwartz.
“By leveraging our strong combined capital markets and leasing capabilities, we will have the opportunity to expand our services, with a focus on property management.  This will create a powerful and differentiated firm with growth potential that benefits Jones Lang LaSalle, Pacific Real Estate Partners and both firms’ clients,” added Hearle.
Jones Lang LaSalle has operated in the Pacific Northwest since 1995, managing local transactions and properties on behalf of clients across the region.
About Pacific Real Estate Partners
Founded in 1992 by Mark Flippo, Steve Schwartz and Stuart Williams, Pacific Real Estate Partners, Inc. is one of the Pacific Northwest’s leading commercial real estate brokerage firms. Its experience and dedication to providing unmatched levels of service form the foundation of successful, enduring client relationships. www.pacific-re.com
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $45.3 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.

Contacts:

Brooke Houghton
+1 312 228 2795

Steve Steinberg
+1 617 531 4122

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