JLL expands space and staff in Hampton Roads
After landing a 2-million-square-foot property management and leasing assignment from First Potomac Realty Trust, the Hampton Roads office of JLL has expanded its staff and space.
The company said it has increased its space at 101 W. Main Street location in Norfolk to 5,557 square feet and added 15 leasing and property management professionals to oversee the First Potomac office portfolio as well as other expanding property management work in the region.
“Our partnership with First Potomac Realty Trust and the addition of 15 people to our team builds on JLL's growth in Hampton Roads. We are thrilled to be able to offer our clients a more comprehensive suite of capabilities,” Deborah Stearns, senior vice president, JLL, said in a statement.
First Potomac’s Hampton Roads portfolio consists of 19 buildings ranging in size from 30,000 square feet to 375,000 square feet. According to JLL, the average leased rate of the portfolio is approximately 93%.
First Potomac is a real estate investment trust based out of Bethesda, Md. It recently exited from the Richmond market with the sale of six business park properties for $60.3 million. The sale of the Richmond portfolio was a continuation of First Potomac's capital recycling plan, which is focused on disposing of non-core properties and reinvesting in high-quality, multi-story office buildings in the Washington, D.C., region.
Among those joining the JLL team in Hampton Roads:
Hal Yuill, a veteran with more than 15 years of experience in the Hampton Roads commercial real estate market, will be a vice president and will spearhead the leasing of the First Potomac portfolio.
Emily Hueber has been named vice president of property management and will oversee the First Potomac Realty portfolio and expand the firm’s property management portfolio in the region.
With the expansion, JLL said its Hampton Roads office represents more than 7.5 million square feet of office and industrial properties for sale or lease.