JLL Buying SoCal Development Services Firm
The Chicago brokerage giant plans to acquire Martin Potts & Associates, which provides project and construction management services for retail, hospitality, healthcare and office properties.
JLL says the acquisition helps strengthen its multi-service platform to better meet demand from increasing development and redevelopment activity in California. Here's JLL's Carlos Serra, MPA partner Greg Holcomb, MPA founder Martin Potts and JLL's Peter Belisle at JLL's Orange County office at 4 Park Plaza.
The Martin Potts & Associates acquisition, expected to close this month, follows JLL's purchase of CLEO Construction Management, Shelter Bay Retail Group and Wilson Retail Group.
Martin Potts & Associates is based in Orange County, with offices in Newport Beach and San Jose. Started in 1991, the company is known as a leader for its development services. Martin and Greg will join JLL, along with nine others from Martin Potts & Associates, becoming part of the 200-person Southwest Project and Development Services team led by Carlos. JLL's PDS group manages design, construction and relocation services with more than 24,000 projects annually in the US, including $12B in projects currently under management.
