SEATTLE-Pacific Real Estate Partners, based here, has merged its operations into Chicago-based Jones Lang LaSalle. Pacific will move its 49 brokers into the locally based JLL office, which hosts about 400 brokers in the Northwest.
The Pacific firm was formed in 1992 by Mark Flippo, Steve Schwartz and Stuart Williams. The company’s had deals such as negotiating a 500,000-square-foot lease for T-Mobile at Newport Corporate Center in Bellevue, WA, gained 88,000 square feet of subleasing for Boeing at Sunset Corporate Campus II in Bellevue and sold a 267,000-square-foot industrial portfolio for Opus on the southeast side of Portland, OR for $18.8 million.
Elizabeth Hearle, Northwest market director for JLL, will continue in her role. Williams will lead the Seattle office, and Flippo and Schwartz will lead in Bellevue. Buzz Ellis and Mark McFarland will run the Portland office.
JLL brings strong local expertise in tenant representation, project and development services and multifamily investment sales, while Pacific has expertise in investment sales, and landlord and tenant representation. “The merger allows us to offer a much broader platform in the Northwest,” Hearle tells GlobeSt.com. “This move was client-led, the clients want a strong presence here. This will grow our market share, add new talent and allow us to add new clients.”
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