Real estate property market news:
CHICAGO, IL–(Marketwired – Apr 3, 2014) – Volkswagen Group of America (VWGoA) has appointed commercial real estate services firm JLL(NYSE: JLL) to provide multiple services, including integrated facility management, transaction management, lease administration, strategic consulting and project management. The contract encompasses VWGoA’s five-million-square-foot corporate real estate portfolio, including more than 65 office, technical and distribution sites, as well as dealership locations, in 20 U.S. states.
Over the last 10 years, JLL has worked with VWGoA on its headquarters relocation from Auburn Hills, Mich., to Herndon, Va., as well as site selection for its 2.5-million-square-foot assembly plant in Chattanooga, Tenn. The new agreement encompasses VWGoA’s locations in 11 states, including development and technical facilities; ports and post-production facilities; parts distribution centers; financial service centers; and its headquarters facility.
Selection criteria included JLL’s innovative service delivery platform, as well as the firm’s strong track record in project management, site selection and brokerage services.
“Automakers face a highly-competitive environment in today’s global marketplace,” said Ken Koupal, Managing Director, JLL. “With this expansion of our business relationship, our team will apply innovative real estate solutions to enhance Volkswagen Group of America’s overall productivity and business performance.”
Globally, JLL has already been one of Volkswagen Group’s partners for real estate services since 2009. JLL has completed a broad range of projects and transactions throughout Volkswagen Group’s portfolio of brands covering all asset types, including warehouses, office and retail space in Europe, Asia, Africa and South America.
About Volkswagen Group of America, Inc.
Volkswagen Group of America, Inc. is a wholly owned subsidiary of Volkswagen AG, one of the world’s leading automobile manufacturers and the largest carmaker in Europe. It operates a manufacturing plant in Chattanooga, Tennessee and houses the U.S. operations of a worldwide family of distinguished and exciting brands including Audi, Bentley, Bugatti, Lamborghini and Volkswagen, as well as VW Credit, Inc. Founded in 1955, the company’s headquarters are in Herndon, Va., Volkswagen Group of America brings vehicles to the U.S. that marry the science of engineering and the art of styling, with the goal of offering attractive, safe, and eco-conscious automobiles that are competitive and set world standards in their respective classes. The company has approximately 6,000 employees in the United States and sells its vehicles through a 992-strong dealer network.
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4 billion, JLL operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.com.
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