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11/17/15
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Real estate services firm JLL has entered into an agreement to acquire Martin Potts & Associates Inc (MPA), a project and construction management services firm 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, provides 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. The firm has offices in Newport Beach and San Jose.
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 bil in projects currently under management.
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