Jones Lang LaSalle has won a major global corporate tender with pharmaceutical giant GlaxoSmithKline.
The agent has been selected as the group’s sole adviser and is tasked with devising a strategy for GSK’s 80m sq ft of properties, handling real estate transactions and managing all the firm’s vacant and sublet assets.
The portfolio covers 750 sites and includes around 27m sq ft of offices, 23m sq ft of laboratories and production space, and 6.4m sq ft of warehouses. The company’s 600,000 sq ft UK HQ is in Brentford, Middlesex.
The contract, one of the largest corporate real estate deals in recent months, sees GSKcutting its global advisers from two to one. Cushman & Wakefield was previously advising alongside JLL.
CBRE and Johnson Controls also pitched for the three-year contract when it went to tender six months ago.
Sue Pictor, director of global real estate at GSK, said: “A twin service provider model has provided a high-quality transactional service up to this point. However, we believe that the single provider model will allow significant financial benefits through 2012 and beyond.”
JLL also this week picked up the contract to advise car giant Volvo on property searches, negotiations, disposals, valuations, sales and acquisitions globally.
james.buckley@estatesgazette.com
