by Ann Withanee — August 3, 2011—Jones Lang LaSalle has announced that HSBC is renewing its five-year, integrated real estate services contract with the firm for its eight-million-square-foot portfolio in the United States, and is expanding the geographic scope to include an additional two-million-square-foot portfolio in Canada.
Jones Lang LaSalle has received a letter of intent from HSBC, and full contract execution is expected in the following weeks. This expanded relationship continues to support HSBC’s strategy of creating capacity for smart growth through the reduction of costs by standardizing processes and leveraging its global scale.
Jones Lang LaSalle has been a real estate advisor to HSBC in North America since 1998, and also manages part of HSBC’s retail bank locations and office portfolios in Latin America. HSBC also appointed Jones Lang LaSalle as one of two strategic regional transaction partners, and the firm will also serve its Asia Pacific and MENA regions.
Jones Lang LaSalle’s work on behalf of HSBC in North America will include integrated facilities management, transaction management, lease accounting, strategic consulting, occupancy planning, predictive analytics, and project and development services throughout the region.
