JLL's Newest Company To Focus On Tech Real Estate
JLL has launched a new unit to promote the development of tech-driven real estate services. JLL Spark will be led by co-CEOs Mihir Shah and Yishai Lerner, both of whom have years of experience in founding, managing and investing in profitable technology businesses. Technology continues to expand within real estate, with investment in tech real estate growing 36% in 2016 to $2.6B compared to $1.9B in 2015.
JLL Spark will build a team that will create new products, strategic investments and incubate PropTech startups dedicated to real estate. Previously, JLL created advanced data analytics tools and acquired software and technology integration companies such as ATG, BRG and Corrigo. JLL will extend and complement this platform.