To meet the
demand of increasing development and redevelopment activity in California,
JLL JLL has entered into an agreement to acquire Martin Potts &
Associates, Inc., a leader in project and construction management services
for retail, hospitality, healthcare and office properties. The transaction
will enable JLL to strengthen its multi-service platform and build on the
recent acquisitions of CLEO Construction Management, Shelter Bay Retail
Group and Wilson Retail Group, which have expanded its project management
and retail services expertise as part of JLL's disciplined acquisition
strategy. The acquisition is expected to close this month subject to
customary closing conditions.
Founded in 1991 by president Marty Potts, Orange County-based MPA, with
offices in Newport Beach and San Jose, Calif., is a recognized leader in
providing project management, construction management, tenant coordination
and entitlement for new construction, renovations and value-add
opportunities across multiple industries. After joining the company in 2005
as a partner, Greg Holcomb worked with Potts to develop MPA into a
highly-regarded development services firm with a staff known for their
strong work ethic and commitment to client service.
"Greg and I are confident that joining JLL is the best way for us to
continue to grow, provide career opportunities for our employees and offer
expanded services to our clients," said Potts. "We are proud of the company
we built over the last 25 years and the relationships we have developed with
our clients. Looking ahead, we expect to contribute to an already strong
platform at JLL."
A total of 11 people from MPA, including Potts and Holcomb, will join JLL
and play integral roles in the 200-strong Project and Development Services
team in the Southwest that is led by Carlos Serra. JLL's PDS group, an
industry leader in the management of design, construction and relocation
services for a wide range of projects from interior build-outs to multi-site
developments, manages more than 24,000 projects annually in the U.S.,
including $12 billion in projects currently under management.
"MPA's deep expertise in project and construction management makes it a
compelling addition to help JLL meet the opportunities that Orange County's
growth presents for the project management sector and, especially, for
retail properties," said Peter Belisle, Market Director for JLL's Southwest
Region. "We welcome our new colleagues to JLL and look forward to our
clients tapping an expanded group of experts who share our commitment to
integrity, excellence and high quality services."
For more news, videos and research resources on JLL, please visit the firm's
U.S. media center Web page: http://bit.ly/18P2tkv
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