HASBROUCK HEIGHTS, NJ-Jones Lang LaSalle made Charles Klatskin an offer he couldn't refuse, and as a result his organization will become part of the larger JLL universe. JLL will acquire the assets of Klatskin Associates LLC and Klatskin Associates Management Co., which combined form the New Jersey operations of Lee & Klatskin Associates, based here. Both sides declined to disclose the terms of the deal.
“The combination of our industrial expertise and local knowledge with Jones Lang LaSalle's depth of services will provide our clients with the ultimate real estate services team,” says Klatskin, a well-known figure in New Jersey commercial real estate circles. “And I am going to grow the industrial business for JLL.”
“This addition advances several of our strategic goals,” says Peter Riguardi, president of JLL's tri-state region. “Those goals are commanding a major presence in key market, expanding our national industrial brokerage business and continually improving our service capabilities. The combination of our two firms adds an important piece to our national industrial services platform.”
Klatskin will continue to play what company officials term, “a key advisory role” for the New Jersey team. His firm's other principals–Robert Kossar, David Knee, Charles Fern, Joel Lubin and Anthony Scaro–will join JLL as SVPs. An additional 20 Klatskin brokers will move over to JLL as well, boosting the firm's New Jersey staff to more than 300.
Klatskin's main office here will become JLL's third office in the state, the main office is in Parsippany. Staffers currently based in Klatskin's Edison office will move into JLL's existing office in Woodbridge by the first of the year.
Klatskin founded the firm as the Charles Klatskin Co. in 1966. In 2001, he hooked up with the Philadelphia-based Binswanger to form Binswanger Klatskin, and in 2005 moved over to an alliance with the California-based Lee & Associates to form Lee & Klatskin Associates.The deal will not affect Klatskin's holdings in Forsgate Industrial Partners, an industrial development company he founded in 1965 that's currently headed by his son, Alex.
For JLL, the deal follows a series of other recent acquisitions, including the Los Angeles-based Zietsman Realty and the North Carolina-based Corporate Realty Advisors earlier this year, and Spaulding & Slye in 2006.
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