JLL Adds Standard to Manage Retail Openings

CHICAGO-Jones Lang LaSalle has acquired the assets of the Standard Group, a retail transaction management firm that is also based here. Officials from JLL say the acquisition, price undisclosed, will strengthen the ability to meet growing demand from retail clients for comprehensive transaction management services.

Standard executes the retail rollout process for clients, including planning, developing and managing retail portfolios. The 7-year-old company has located and opened more than 1,400 new stores for retailers across the US, for clients that include the national rollout for T-Mobile USA and new store growth for Jamba Juice.

Doug Sharp, JLL international director and head of the new branch of the company, tells GlobeSt.com that Standard brings in a unique talent. “More and more retailers are looking to outsource the extension of the real estate function,” Sharp says. “We see this as a great complement to project management, and will bring a service to a number of our retail clients.” The current services at JLL include multi-site project management and facility management for retail stores, as well as leasing, management and advisory services for 150 retail properties.