JONES Lang LaSalle is boosting reach in New South Wales by buying commercial real estate agency Shore Industrial in Sydney’s northern beaches.
JLL’s NSW managing director Bernard Poliquin said the acquisition is part of the firm’s broader plan to provide full-service offices across the competitive suburban markets.
With offices in Brookvale and Mona Vale, Shore Industrial services the entire, rapidly growing, northern beaches region, including the industrial areas of Balgowlah, Brookvale, Manly Vale, Cromer,
“The northern beaches district is growing as a commercial hub and is undergoing a strong investment and redevelopment phase. With this acquisition, Jones Lang LaSalle will be better able to service the needs of investor clients who are seeking commercial and industrial opportunities away from the CBD or established technology parks.” he added.
Shore’s principals Richard Rubenach and Martin O’Brien will join JLL as directors, bringing with them a team of 12 staff.
Rubenach said Shore is already a dominant player in the northern beaches commercial property market.
“Joining forces with Jones Lang LaSalle will help us to take our business to the next level,” he concluded.
The acquisition is scheduled to close on March 03, is the latest of a wave of merger and acquisition activity by Jones Lang LaSalle.
Australian Property Journal
