As part of an on-going effort to expand Jones Lang LaSalle’s overall retail platform, the firm announced it has acquired Surge Retail International, a New York and Boston-based specialty retail tenant representation firm. The price was undisclosed.
Surge Retail’s co-founders, Steve Ferris and Michael Hirschfeld, will join the firm as senior vice presidents and co-lead JLL’s National Retail Tenant Services practice.
They will work closely with Lew Kornberg to expand the firm’s retail tenant representation capabilities, targeting premium and high-end retailers occupying space in enclosed malls, outlet centers and dense, urban retail markets across the United States, as well as international retailers wanting to expand throughout North America.
“The addition of Surge Retail strategically advances our quest to provide unparalleled service to a full spectrum of national retailers by utilizing JLL’s local market knowledge and expertise to execute the ever more demanding real estate mandates of those clients,” said Greg Maloney, CEO and president of Jones Lang LaSalle Retail.
Industry veteran Hirschfeld co-founded Surge Retail International with Ferris. The pair have built their business of maximizing their client’s portfolios.
“While opening new stores is the most exciting part of the business, we view every store as unique unto itself, advising on the best strategy and adding value to all of our client’s real estate decisions from expansion and contraction to design and location.
During the first half of 2013, JLL Retail has added more than 60 new assignments and 30 retail clients.