LOS ANGELES—In an effort to bolster its retail business, JLL has acquired the Los Angeles-based Wilson Retail Group. As part of the acquisition, Wilson Retail's Chris Wilson and Scott Burns along with 16 Wilson team members will join JLL. The sum of the acquisition and value of the transaction was not disclosed.

“Scott and I determined very early on that JLL was the first national brokerage company interested in our firm and our business that was the right of cultural fit for us. They are a company we could introduce to our clients and to our staff, and assure them with confidence that this was a good next step for our firm,” Wilson, the former founder and principal of Wilson Retail Group and now an EVP and the Southwest brokerage lead for JLL retail.

Wilson and Burns originally met JLL three years ago and have been cultivating a relationship since, waiting for the right time to make that transition. In those three years, the company has experienced some significant success, growing from a small boutique firm to a 17-person mid-sized firm. “Our firm has had tremendous growth, as much a 150% or 200% growth since 2008 when the recession hit. We became a mid-sized boutique brokerage company and wanted to take it to the next step,” says Wilson. “We evaluated a lot of alternatives, including self-financing and additional capital from groups, and we found that JLL was the best alternative.”

The advantages of joining JLL are pretty significant. Overnight, the firm will gain a network of 150 retail experts nationwide and will allow them to grow even more. The benefits, though, aren't one-sided. JLL is gaining the top retail agency-leasing group in the region. Wilson currently represents 9 million square feet of retail space in 75 shopping centers, and has $125 million of retail assets on the market.

Through all of these changes, however, the heart of Wilson's culture and philosophy will remain steadfast. “Our goals will be aligned with exactly where we were at Wilson Retail Group, which is growing the retail business, agency business, tenant representation business and our best of sales division through best of sales and heavy recruiting,” says Burns, the former president of Wilson Retail Group and an EVP and retail brokerage lead for JLL's Los Angeles office. “The JLL platform will empower us with team members throughout the country. There are now 150 retail brokers that are now in our network, and that opportunity for us is tremendous.”