AUSTRALIA, 18 JANUARY 2012 – Jones Lang LaSalle has increased the reach of its Tenant Representation business in Australia, with the acquisition of Tenant Advisory firm, MPS Property.
MPS has been acquired as a wholly owned Jones Lang LaSalle company. The team of 6 Tenant Representation advisors and 3 Project Managers will be retained under the new structure.
Founded in 1994, MPS is led by Steve Urwin with briefs across Australia in both tenant representation and project management. Mr Urwin has 30 years’ experience in the industry and has advised a wide range of clients on their accommodation strategies.
Stephen Conry, CEO of Jones Lang LaSalle Australia said, “We are bringing into the firm top talent from MPS Property who have an impressive track record in key CBD markets to join our existing strong team of 83 Tenant Representation professionals.
"Steve Urwin is an industry leader and he and his team will be a natural and valued fit with Jones Lang LaSalle.
“MPS Property brings to Jones Lang LaSalle an impressive list of blue chip corporate clients and is particularly strong in the professional services sector, which will bolster our service offering in this area. The expanded Tenant Representation team through the merging of the two businesses will result in a strengthened presence in all markets across Australia,” said Mr Conry.
Australian Head of Corporate Solutions, Transactions and Corporate Consulting at Jones Lang LaSalle, Tony Wyllie said, “Jones Lang LaSalle will continue to look for niche acquisition opportunities in our Corporate Solutions business during 2012 that will strengthen our service offering to corporate clients and differentiate the firm in the market.
“A strengthened team with the combined resources of Jones Lang LaSalle and MPS will create a powerhouse in tenant representation - bringing more market insights and opportunities to add value to our client’s business operations.
“2011 was a record year for our business. Despite conservative strategic decision-making by corporate tenants due to volatility in global financial markets, our Australian business exceeded revenue and profit over previous years by capturing more market share.
“Our Corporate Solutions business is on a strong growth path and it is the ideal time to expand and integrate the expertise from MPS Property into our firm and further grow our client base and share of the market,” said Mr Wyllie.
Principal of MPS Property, Steve Urwin said the timing was right for MPS Property to merge with a global property services player like Jones Lang LaSalle.
“Australia is now regarded as one of the most sophisticated tenant representation markets in the region. When I set up MPS in 1994, there was no defined tenant representation base in Australia. The market has evolved greatly since that time and this transaction will provide a platform to consolidate our independent values within the broader Jones Lang LaSalle business. We will continue to push for transparency and an equitable balance in all of our client negotiations.
“MPS prides itself on its strategy-led transaction advice to clients and this is something where we have a strong fit with Jones Lang LaSalle who value and embody this approach. The global and regional reach of the firm and the expertise and research capability this brings with it is a dimension we didn’t have as a smaller firm.
“It is an exciting transition for the team at MPS and we look forward to working as part of the wider Jones Lang LaSalle team in both Australia and the region,” said Mr Urwin.