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JLL Scoops Up Northwest Atlantic to Boost Retail Presence in Canada

Global Firm Will Integrate 45 Employees Into Existing Team
August 2, 2018
Left to Right: Chris Wood, Tim Sanderson, Dianne Lemm, Lawrence Hildebrand and Scott Lee, five of the 11 shareholders of Northwest Atlantic.

Jones Lang LaSalle is buying Toronto-based independent retail brokerage firm Northwest Atlantic in a move to bulk up its retail presence in Canada.

JLL said 45 employees, including 22 brokers across Toronto, Montreal and Vancouver, will join and integrate with its existing retail team in Canada.

"Retailers' needs are changing dramatically as e-commerce impacts everything from site selection to store configuration and supply chain logistics. Our new partnership and combined operations with Northwest Atlantic enhance and broaden the scale and scope of our service offerings for retailers," said Brett Miller, chief executive of Canada, JLL, in announcing the partnership.

JLL, based in Chicago and operating in more than 80 countries with a global workforce of 83,500 as of March 31, said the deal would allow it to expand its current retail advisory business in the market and provide a range of real estate and leasing services to retailers seeking to enter, expand or operate in Canada.

Within JLL, Northwest Atlantic will operate as a boutique practice team.

No financial terms were disclosed.

Founded in 1991, Northwest Atlantic is privately owned by 11 shareholders, including chief executive Tim Sanderson, and principals Lawrence Hildebrand, Chris Wood, Scott Lee and Dianne Lemm. The company has represented more than 65 retailers and transacted more than 75 million square feet of real estate across Canada.

Northwest has specialized in supporting retailers with market penetration strategy; demographic analysis; trade area definition and delineation; roll-out strategy; site identification, selection and acquisition; transaction negotiation; corporate approval process support; renewals and dispositions; and relocation analysis.

The new Northwest executive team will report to and partner closely with Miller and Naveen Jaggi, president of retail advisory services for JLL Americas.

"We've been growing our retail advisory services throughout the United States since 2015, and looking for the right cultural fit to increase our presence in Canada. Northwest Atlantic's client-centric mentality and unwavering commitment to their clients’ success made them the right group to add to our expanding global retail business," said Jaggi in a statement.

Garry Marr, Toronto Market Reporter  CoStar Group   

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