{"id":1004036032,"date":"2012-01-26T05:37:12","date_gmt":"2012-01-26T13:37:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004036032"},"modified":"2022-12-08T09:57:57","modified_gmt":"2022-12-08T17:57:57","slug":"jll-adds-to-tenant-rep-side-with-purchase-of-australian-firm","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jll-adds-to-tenant-rep-side-with-purchase-of-australian-firm\/","title":{"rendered":"JLL Adds to Tenant-Rep Side with Purchase of Australian Firm"},"content":{"rendered":"

January 26, 2012<\/strong>
\nBy Scott Baltic, Contributing Editor <\/em><\/p>\n

Jones Lang LaSalle Inc. has acquired Sydney-based tenant advisory firm MPS Properties, the company\u2019s Singapore office announced. The purchase, which strengthens Jones Lang LaSalle\u2019s top position in tenant representation in Australia, makes MPS a wholly owned Jones Lang LaSalle company. With the acquisition, JLL reportedly manages transactions across approximately 43 million square feet of Australian office space.<\/p>\n

MPS was founded in 1994 by current head Steve Urwin and operates across Australia in both tenant rep and project management. Its team of six tenant-rep advisors and three project managers are being retained under the new structure. MPS\u2019 clients include PricewaterhouseCoopers, Sony Australia and Swiss Re.<\/p>\n

\u201cThe acquisition of MPS \u2026 is part of our strategy to increase market share in key countries, including Australia, and to expand our service offering to clients,\u201d said John Forrest, CEO of corporate solutions for JLL in the Asia-Pacific market.<\/p>\n

According to mid-year 2011 figures from the Property Council of Australia, total vacancy in Australia\u2019s office markets decreased from 9.6 percent to 9.0 percent in the first half of 2011, the lowest level in two years. The decline reportedly was the result of stronger demand and lower-than-average supply. Net absorption over the period was 2.36 million square feet, or about 18 percent above the average over the previous 20 years.<\/p>\n","protected":false},"excerpt":{"rendered":"

Jones Lang LaSalle has acquired Sydney-based tenant advisory firm MPS Properties, adding approximately 43 million square feet of Australian office space to the company’s management rolls. <\/p>\n","protected":false},"author":1201,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,16,21742,21785],"tags":[],"class_list":["post-1004036032","post","type-post","status-publish","format-standard","hentry","category-corporate-real-estate","category-international","category-latest","category-property-management"],"acf":[],"yoast_head":"\nJLL Adds to Tenant-Rep Side with Purchase of Australian Firm - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jll-adds-to-tenant-rep-side-with-purchase-of-australian-firm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JLL Adds to Tenant-Rep Side with Purchase of Australian Firm\" \/>\n<meta property=\"og:description\" content=\"Jones Lang LaSalle has acquired Sydney-based tenant advisory firm MPS Properties, adding approximately 43 million square feet of Australian office space to the company's management rolls.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jll-adds-to-tenant-rep-side-with-purchase-of-australian-firm\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-01-26T13:37:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T17:57:57+00:00\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-adds-to-tenant-rep-side-with-purchase-of-australian-firm\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-adds-to-tenant-rep-side-with-purchase-of-australian-firm\\\/\"},\"author\":{\"name\":\"Nicholas Ziegler\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\"},\"headline\":\"JLL Adds to Tenant-Rep Side with Purchase of Australian Firm\",\"datePublished\":\"2012-01-26T13:37:12+00:00\",\"dateModified\":\"2022-12-08T17:57:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-adds-to-tenant-rep-side-with-purchase-of-australian-firm\\\/\"},\"wordCount\":223,\"commentCount\":0,\"articleSection\":[\"Corporate Real Estate\",\"International\",\"News\",\"Property Management\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-adds-to-tenant-rep-side-with-purchase-of-australian-firm\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-adds-to-tenant-rep-side-with-purchase-of-australian-firm\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-adds-to-tenant-rep-side-with-purchase-of-australian-firm\\\/\",\"name\":\"JLL Adds to Tenant-Rep Side with Purchase of Australian Firm - 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