JLL Wins Strategic Services Assignment from Education Management Corp.
- Sep 12, 2012
Jones Lang LaSalle just added a major assignment to its plate. The commercial real estate services firm has been tapped by Education Management Corp. to supply strategic real estate services for the post-secondary education provider’s corporate real estate portfolio of more than 109 properties in the United States.
JLL’s responsibilities will run the gamut. Its tasks will include transaction advisory services, lease administration, strategic consulting and capital markets advisory.
The assignment did not just fall into the firm’s lap; the competition for the award was steep. JLL cites a bevy of factors that placed the firm ahead of the rest, including solid references, track record and technological infrastructure in the areas of transaction advisory, lease administration, strategic consulting and capital markets.
“We are partnering with EDMC and its other service providers to deliver a suite of services to support EDMC’s location and portfolio optimization strategies,” said Benjamin Bader, account executive with JLL.
Companies outside of the real estate sphere have not been shy about securing third parties to oversee their properties. Major outsourcing assignments conferred by such entities have been plentiful in 2012. The U.S. Air Force awarded JLL a contract to provide advisory and housing portfolio management services at selected bases across the country. ITOCHU Corp. chose Cassidy Turley to manage its collection of 136 office and industrial locations in North America. SunTrust Banks Inc. recently selected Cassidy Turley to provide corporate real estate services for the financial institution’s 14 million-square-foot portfolio of facilities. Additionally, MoneyGram International decided to go with Newmark Grubb Knight Frank to spearhead brokerage, consulting and lease administration activities.
International companies have also been looking to U.S.-headquartered services firms to take real estate-related responsibilities off their hands. In June, U.K.-based Logica plc called on JLL to serve as its exclusive real estate services advisor for the business consulting and technology services company’s global portfolio. The contract came less than six months after GlaxoSmithKline plc picked JLL to take on the role of the pharmaceutical giant’s sole global real estate provider, overseeing services for a collection of properties spanning 80 million square feet across 750 locations.