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JONES LANG LASALLE INCORPORATED

(JLL)
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Real-time Estimate Cboe BZX  -  02:36 2022-11-28 pm EST
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Jones Lang LaSalle Incorporated : Richard B. Hodos joins JLL New York Retail Brokerage as vice chairman

09/23/2022 | 07:41am EST

NEW YORK, N.Y., Sept. 21, 2022 - JLL announced today that veteran New York City retail broker Richard B. Hodos has joined the firm as vice chairman, Retail Brokerage, and will be based in the firm's Manhattan office. He will be joined by longtime associate, Michael Remer, who will serve as vice president, Retail Brokerage.

The two join JLL from CBRE, where Hodos was ranked the No. 1 retail broker in the Americas on two consecutive years, and bring nearly four decades of combined experience providing full-service real estate consulting to global brands, national retailers and prominent landlords.

"Richard is a trailblazer in the retail real estate arena. His extensive experience and relationship-driven leadership in the luxury market in particular will be a tremendous asset as we continue to strengthen our capabilities in New York and beyond," said Naveen Jaggi, President Retail Brokerage, JLL.

"I have had the privilege of knowing and respecting Richard Hodos for many years. The entire JLL Retail team is excited to have the opportunity to collaborate with Richard and Michael moving forward. They are high-caliber individuals both personally and professionally and their perspective to the business and relationships are very much aligned with JLL's approach," said Patrick A. Smith, vice chairman, Retail Brokerage, JLL New York.

Hodos is credited with contributing to the re-merchandising of Fifth Avenue that turned the stretch from 49th Street to 60th Street into the "most expensive street in the world." He worked with Tishman Speyer to reimagine Rockefeller Center for the 21st century and consulted on retail leasing at the World Trade Center Oculus while completing transactions with pension funds, corporate institutions and global brands.

Remer has worked with Hodos at CBRE since 2017, representing retail tenants and landlords throughout the city. Together they collected the Real Estate Board of New York's Most Ingenious Deal of the Year for bringing The Wizarding World of Harry Potter to 935 Broadway in a deal with Warner Bros. in 2019. In the past year, Remer has completed transactions totaling over $100 million in gross consideration with retailers, including Versace, Valentino, Michael Kors and Reza Jewelers.

Previously, Remer was a commercial leasing agent with The Corcoran Group and, before that, an investment advisor with U.S. Trust, Bank of America.

"There is enormous opportunity in the retail space as shoppers demand better experiences," said Hodos. "We are thrilled to advance our efforts with JLL, a company whose culture and best-in-class platform support our delivery of superior client services."

The arrival of Hodos and Remer at JLL comes one month after Nicki Hines joined the firm as executive managing director, Retail Corporate Services. Hines is considered a leading expert in international retail whose work with brands, including Coach, Microsoft and Nike, have made her a go-to resource for precedent-setting concept, strategy and engagement policies.

JLL is a leader in the New York tri-state commercial real estate market, with more than 2,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting and project and development services.

Disclaimer

Jones Lang LaSalle Inc. published this content on 21 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2022 11:40:08 UTC.


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Financials (USD)
Sales 2022 20 894 M - -
Net income 2022 737 M - -
Net Debt 2022 1 529 M - -
P/E ratio 2022 11,5x
Yield 2022 -
Capitalization 7 786 M 7 786 M -
EV / Sales 2022 0,45x
EV / Sales 2023 0,43x
Nbr of Employees 98 200
Free-Float 90,6%
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Number of Analysts 8
Last Close Price 164,05 $
Average target price 217,29 $
Spread / Average Target 32,5%
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Managers and Directors
Christian Ulbrich President, Chief Executive Officer & Director
Karen Brennan Chief Financial & Investment Officer
Siddharth N. Mehta Chairman
Allan Frazier Global Chief Information Officer
Benjamin Breslau Chief Research Officer
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