JLL acquires Northwest Atlantic to expand retail real estate footprint
Northwest Atlantic, Canada's leading retail tenant advisory firm, has been been fully acquired by JLL.
The firm, which represents leading global, national and local retailers across all categories, has transacted more than 75mn square feet of retail real estate in Canada.
By selling to JLL, it will be able to greatly increase its research capabilities while giving its clients access to JLL's broad range of facilities.
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For JLL, the move allows it to expand its current retail advisory business in the market and provide an extensive range of real estate and leasing services to retailers seeking to enter, expand or operate in Canada.
"We joined JLL because of its Practice Team structure, which allows us to continue operating as a specialised unit and does not change our hands-on approach with our clients," said Tim Sanderson, NWA CEO and now Executive Vice President, JLL.
"We are now able to add resources, technology, a deeper research platform and increased geographic coverage across Canada and globally. We can now give our clients access to a full suite of offerings from JLL that we didn't have on our own, such as office and industrial services, project management and capital markets expertise through JLL's National Retail Investment Group."
Brett Miller, CEO of Canada, JLL, added: "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."