Jones Lang LaSalle Inc. acquired Northwest Atlantic Inc., a Canadian retail-tenant representation and advisory firm, to feed the growing demand from retailers around the world looking to expand in Canada.
Northwest Atlantic, a closely held company based in Toronto, represents more than 65 retailers including fashion retailer Nordstrom Inc., discount-apparel company Winners and movie-theater operator Cineplex Inc., and has helped leased more than 75 million square feet (7 million square meters) of retail real estate across Canada.
The purchase price wasn’t disclosed. A total of 45 employees across cities including Toronto, Montreal and Vancouver will join JLL Canada’s team, and the acquisition will result in no job cuts, JLL said. It’s the brokerage’s first acquisition of a retail-services company in Canada and the largest one of its kind in the Americas, Naveen Jaggi, president of retail advisory services for JLL Americas, said by phone.
“By joining forces with the Northwest Atlantic team, we’ve now created an…