CHICAGO — Adding to their comprehensive energy services, Chicago-based real-estate consultant, Jones Lang LaSalle (JLL), signed a letter of intent to acquire Washington-based CoR Advisors, a business that specializes in smart building consulting and solutions.
CoR Advisors, founded in 2009, works to transform buildings into energy-efficient, high-performance facilities. The company, a network of thousands of subscribers and followers, is considered a leader in energy efficiency due to its strategic approach to educating, consulting and solutions.
Through the acquisition, JLL hopes CoR Advisors’ expertise in smart building integrations systems will complement and augment JLL’s growing focus on high-performance building technology solutions, including IntelliCommand, a facility management software system that works to reduce energy needs in places such as office buildings, data centers and retail sites. The building system is now used in more than 120 buildings, representing approximately 30 million square feet.
“Joining JLL will provide a tremendous opportunity to expand CoR Advisors’ services and solutions to thousands of buildings throughout JLL’s management portfolio, including 3.4 billion square feet of owner-occupied and investor-owned buildings throughout the world,” said Darlene Pope, founder of CoR Advisors, in a statement.
The Environmental Protection Agency (EPA) recently recognized JLL with a 2015 Energy Star Partner of the Year–Sustained Excellence Award for the firms continued energy-efficiency achievements. The EPA also awarded the firm a 2015 Energy Star Partner of the Year-Climate Communications award for the company’s advocacy to combat climate change. This is the fourth consecutive year JLL has received the Sustained Excellence Award.
JLL has been an Energy Star partner since 1998. In 2014, the firm had 164 Energy Star-certified buildings in its portfolio, and in the same year, the firm helped its clients reduce 220,000 metric tons of carbon dioxide, resulting in $39 million in energy cost savings over the year.
“The acquisition of CoR Advisors will reinforce our commitment to provide our clients the highest level of comprehensive energy management and sustainability services by deepening our capabilities to deliver smart building integration systems,” said Dan Probst, Chairman of JLL’s Energy and Sustainability Services group, in a statement.
The proposed acquisition is expected to close later this month.