Gordon Brothers and JLL announce third-party service alliance
By Al Urbanski | Originally published in Chain Store Age
JLL and Gordon Brothers have formed a strategic alliance with the stated purpose of elevating the level and number of services they offer to retailers and their investors.
The combined organization will focus on helping retailers minimize lease liabilities, maximize the value of their underperforming assets, and retain or migrate customers.
“Gordon Brothers’ appraisal, valuation, and disposition services are a great complement to JLL,” said Naveen Jaggi, president of JLL Retail Advisory and Capital Markets. “Gordon Brothers is the leading expert in this area, having provided more financial guarantees to retailers than any of their competitors.”
Both companies share long heritages and global presences. Together, they employ nearly 90,000 real estate professionals in more than 80 countries and generate $18 billion in transactional revenue each year.
The press release announcing the alliance claimed that “no team has restructured more leases, disposed of more inventory, facilitated more country exits, or closed more stores within the retail space.”
“The conventional lease disposition approach no longer fully serves progressive retailers,” said Gordon Brothers CEO Kenneth Frieze. “By integrating our expertise with JLL’s extensive broker networks and technology systems, clients will gain access to expanded services to help them transform their businesses.”