CHICAGO and PORTLAND, Nov. 12, 2014 — In a strategic move to create a more powerful platform in Portland, JLL (NYSE: JLL) today announced that it has entered into an agreement to acquire Cresa Portland, a leading real estate firm that specializes in tenant representation and corporate services. The acquisition is expected to close shortly.
Cresa Portland, which has grown into the city’s leading tenant representation firm over the last 20 years, also provides relocation management, project management and global portfolio management services to corporate clients in the technology and venture-backed growth sectors. Cresa Portland Founder and Managing Principal Craig Reinhart, Managing Principal Chris Elsenbach and 11 other professionals will join JLL.
Cresa Portland’s employees will join JLL’s 150-strong local team, which provides a broad platform of services including tenant representation, capital markets, project and development services, corporate solutions and property management. JLL currently manages nearly 7 million square feet of space in Portland, representing 10 percent of the market.
Reinhart and Elsenbach will work closely with Buzz Ellis, who leads JLL’s Portland office. Additionally, Matt Newstrom will lead JLL’s Portland Project and Development Services practice; Niall Travers will co-lead the local tenant representation group with JLL’s Eric Haskins; and Eric Turner, Matt Ryer and Charlie Floberg will support local and global corporate clients.
“We have built our company on trusted, long-term relationships with our clients and measure our success through their success. The JLL culture uniquely supports our commitment to our clients and preserves the trusted advocacy-based relationships to which they have grown accustomed,” Reinhart added.
For more news, research and information from JLL, please visit: www.jll.com.
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $53.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.