In a move to expand its property-management business, Jones Lang LaSalle acquired Means Knaus Partners, a Houston-based property-management company. The transaction will boost Jones Lang LaSalle’s portfolio of office space under management by about 16 million square feet with properties located primarily in Chicago, Dallas, Denver, Houston, Los Angeles, Orlando and Tampa.
Founded as a private real estate investment and management company in 1998 by industry veterans Steve Means and Doug Knaus, Means Knaus Partners manages 80 metropolitan office assets throughout the United States. Knaus will join Jones Lang LaSalle as an international director. Robert Nowak, chief operating officer of Means Knaus Partners, will join Jones Lang LaSalle as a managing director, along with nearly 100 Means Knaus Partners employees.
“Our MKP colleagues bring deep expertise and strong client relationships to JLL, resulting in a powerful fit that will enhance the combined platform’s strength in key markets,” said John Gates, president of Jones Lang LaSalle’s National Real Estate Services. “Both JLL and MKP have impressive legacies in property management, and we both operate with a vested ownership mentality that will bring greater value to our clients.”