RETAIL TIES THAT BOND: JLL, the largest third-party retail property manager in the U.S., is expanding its brokerage business. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6 billion, JLL in the last year has acquired a spate of retail brokerage firms across the U.S.
JLL’s latest move involves Houman Mahboubi, a veteran who’s amassed a big retail Rolodex, as senior vice president of its L.A. practice. Mahboubi closed more than $100 million and five million square feet of transactions in Beverly Hills and elsewhere in Southern California. Mahboubi’s associates Devin Klein, Greg Briest and Montrese Chandler will join him at JLL’s Century City office. Prior to joining JLL, Mahboubi was a managing partner at BRC Advisors, where his clients included Gucci, Valentino, Tory Burch, Lululemon, Alice + Olivia and SoulCycle.
“High street retail in Beverly Hills is a specialized niche market that takes years to create,” said Peter Belisle, Southwest market director at JLL. “Houman is a premiere broker in this area and we are confident that he will provide tremendous value to our clients as they look at this crucial market for expansion and investment.”