JLL and Gordon Bros. have formed a “strategic alliance” aimed at helping retailers better navigate the change management processes involved with restructuring, which often includes liquidations and real estate portfolio reconfigurations.
“The alliance will support all retailers, growing or challenged, with the most comprehensive set of real estate, inventory, brand and customer migration solutions,” the firms said in a joint statement. “Together, Gordon Brothers and JLL now offer one of the largest teams of real estate experts to help retailers minimize lease liabilities, maximize the value of their underperforming assets, and retain or migrate customers while protecting and developing their brands. The alliance allows retailers to focus on what is critically important: managing their brand and servicing their customers.”
Terms of the partnership were not disclosed. The companies said the combined alliance is expected to generate $18 billion in “transactional revenue,” annually.
Naveen Jaggi, president of JLL retail advisory and capital markets in the Americas, said the services offered by Gordon Brothers — which includes appraisal. valuation and disposition — complements JLL’s offerings. “Through our alliance with Gordon Brothers, we gain the ability to deploy capital to support retailers throughout their life cycle,” Jaggi said.
“The retail market is evolving rapidly,” said Kenneth Frieze, chief executive officer of Gordon Brothers. “The conventional lease disposition approach no longer fully serves progressive retailers. By integrating our expertise with JLL’s extensive broker networks and technology systems, clients will gain access to expanded services to help them transform their businesses.”
The companies said the combined services will include portfolio reviews and lease mitigation as well as termination services and restructurings. Sales, valuations and property management as well as brand licensing and conversions will also be offered, among many other services.