Commercial real estate firm JLL has acquired competitor Cresa South Florida.
Cresa specializes in representing tenants and managing construction projects. Its 30 brokers and employees will nearly double the size of JLL’s Miami team.
South Florida is an important real estate market because of foreign investment and the number of companies headquartered here, said Doug Irmscher, Florida market director for JLL, which has offices around the world.
“It’s the second largest metro area in the Southeast after Washington, D.C.,” Irmscher said.
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Alan Kleber, managing director of Cresa South Florida, said the acquisition gave his team access to a “deep bench” of talent at JLL.
“They are considered the gold standard in our industry,” Kleber said.
JLL, formally known as Jones Lang LaSalle, is not disclosing financial terms of the deal. Last year, the firm acquired Cresa’s office in Portland, Oregon.