Chicago real estate giant Jones Lang LaSalle Inc. acquired Brentwood retail brokerage and capital markets firm Wilson Retail Group for an undisclosed sum in a deal that closed May 7.
Co-founded in 1990 by Principal Chris Wilson and President Scott Burns, Wilson has specialized in representing owners of grocery-anchored neighborhood shopping centers. The firm is the leasing agent for 9 million square feet of retail space in 75 shopping centers and its investment sales team is marketing $125 million worth of property.
Chris Wilson said he had received interest from other companies over the years but JLL seemed like the right cultural fit.
“JLL has some really good people that poked us,” he said. “One in particular in Atlanta contacted us two years ago and we had a meeting to discuss servicing needs they couldn’t do internally. It moved into more of a recruiting conversation.”
Peter Belisle, market director for JLL’s southwest region, said that while there are no other acquisitions the company is ready to disclose, it is always looking.
Wilson, Burns and their 13 employees will remain at the office at 11620 Wilshire Blvd. as part of JLL’s retail team. The merger will not result in any layoffs. With the deal, Wilson becomes executive vice president and southwest brokerage lead of JLL retail. Burns is executive vice president and retail brokerage lead for JLL’s L.A. office.
Wilson said that he expects the retail team to expand.
“Retail is definitely a priority for us in this region and (talent) is a critical element as we look to grow our retail division,” Belisle said.
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