Jones Lang LaSalle has acquired property management company Means Knaus Partners in move aimed at expanding JLL’s portfolio of office space by 16 million square feet.
MKP CEO Doug Knaus will join JLL as international director and Chief Operating Officer Robert Nowak will serve as managing director at JLL, JLL said Monday.
Houston-based MKP was founded by Steve Means and Knaus in 1998 and currently manages 80 office assets in U.S. metropolitan areas.
JLL will acquire MKP’s properties that are primarily located in Chicago, Dallas, Denver, Houston and Los Angeles, as well as in Orlando and Tampa, Fla.
John Gates, JLL president of national real estate services, said the company aims to grow its market presence through MKP’s expertise and client relationships.
The combined company aims to become the top third-party office space manager in Orlando and the second-largest in Los Angeles County, complementing JLL’s current number one positions in Chicago’s central business district and Denver.
JLL holds the number two spot in Chicago, the company says.