Newswire
Covering Northern, Central and Southern New Jersey
JONES LANG LASALLE ACQUIRES KLATSKIN
inside the RETAIL MIND
Jones Lang LaSalle made Charlie Klatskin an offer he couldn’t refuse, and as a result his organization will become part of the larger JLL universe. JLL will acquire the
assets of Klatskin Associates LLC and Klatskin Associates Management Co., which
combined form the New Jersey operations of Lee & Klatskin Associates, Hasbrouck
Heights. Both sides declined to disclose the terms of the deal.
“The combination of our industrial
expertise and local knowledge with Jones
Lang LaSalle’s depth of services will provide
our clients with the ultimate real estate serv-
ices team,” says Klatskin, a well-known fig-
ure in New Jersey commercial real estate
circles and a member of this magazine’s Ed-
itorial Advisory Board. “And I am going to
grow the industrial business for JLL.”
“This addition advances several of our
strategic goals,” says Peter Riguardi, presi-
dent of Jones Lang LaSalle’s tri-state met-
ropolitan region. “Those goals are
commanding a major presence in key mar-
kets, expanding our national industrial bro-
kerage business and continually improving
our service capabilities.
Klatskin: Growingindustrial. “The combination of our two firms adds
an important piece to our national indus-
trial services platform,” Riguardi continues.
Klatskin will continue to play what company officials term, “a key advisory role”
for the New Jersey team. His firm’s other principals—Robert Kossar, David Knee,
Charles Fern, Joel Lubin and Anthony Scaro—will join JLL as SVPs. An additional
20 Klatskin brokers will move over to JLL as well, boosting that firm’s New Jersey
staff to more than 300.
Klatskin’s main office in Hasbrouck Heights will become JLL’s third office in the
state—the company’s main office is in Parsippany. Staffers currently based in
Klatskin’s Edison office will move into JLL’s existing office in Woodbridge by the
first of the year, company officials say.
Klatskin founded the firm as the Charles Klatskin Co. in 1966. In 2001, he
hooked up with the Philadelphia-based Binswanger organization to form Binswanger Klatskin, and in 2005 moved over to an alliance with the California-based Lee & Associates to form Lee & Klatskin Associates. The deal will not
affect Klatskin’s holdings in Forsgate Industrial Partners, an industrial development company he founded in 1965.
For JLL, the deal follows a series of other recent acquisitions, including the Los
Angeles-based Zietsman Realty and the North Carolina-based Corporate Realty Advisors earlier this year, and Spaulding & Slye in 2006.
Joe Morris
Edgewood
Properties
“Brownfields are the
prettiest girl in the
room right now, and
everybody wants to
meet them. They’re
located in high de- JoeMorris
mand areas [for re-tail]. You’re not going to find a brownfield
site out in the middle of nowhere. They’re
usually in highly populated areas.”
(Full story on page 24)
John Orrico
National Realty &
Development Corp.
“It’s the small businessman that has to
go through the same
approval process
just to get a store
into a shopping cen- JohnOrrico
ter. We, as developers, scratch our heads and say, ‘it’s retail.
How come you’re putting these people
through all this pain to put retail into retail?’”
(Full story on page 21)
did you KNOW?
...that NAI Global has rolled out NAI ReStore,
aimed at providing retailers and shopping center
developers with a variety of corporate-style real
estate services. And NAI Global has tapped veteran retail operator David Solomon, a founding
investor of such retail operations as Zany Brainy
and Mid-Atlantic Restaurant Systems, to head it.
