By Barbra Murray, Contributing Editor
Los Angeles is full of stars and now Jones Lang LaSalle has snapped up an entertainment industry legend of its own. The commercial real estate services firm just hired Carl Muhlstein to spearhead services for clients in the entertainment and creative sectors.
Muhlstein comes to the table with valuable, specialized expertise coveted over the last quarter-century. JLL grabbed him from Cushman & Wakefield Inc., where he most recently held the position of vice chair and had a hand in more than $2 billion of transactions over the last five years. Muhlstein can perform?and he knows the business.
?Real estate is just another tool for producing content and our clients require a broad range of skills which could include acquiring and disposing of land, selling operating studios and seeking creative office workplace strategies because they often don?t like to fit into traditional office space,? Muhlstein told Commercial Property Executive.
But the diverse demands of the entertainment industry will keep Muhlstein busy beyond the office sector. Users also require? for production and post-production purposes?studio lots, screening rooms, technical facilities and on-location space. Manufacturing and packaging activities demand warehouse and logistics space and additional creative office space, and marketing and distribution duties call for more industrial facilities, as well as theater and retail space with another sprinkling of office.
?There?s a wide variety of real estate that entertainment touches, which is why I was attracted here [to JLL],? said Muhlstein. ?This company has such strong skill sets and support for me and just a wide variety of real estate, which is what I need to help serve my client.?
Part of the strong skill sets and support Muhlstein will benefit from at JLL will come from a familiar source. Hayley Blockley, who previously worked with Muhlstein as a director of brokerage services at C&W, has come aboard JLL as a senior vice president.?Both of these professionals have hit the ground running.
?The entrainment industry is the largest employer in the county and its relationship to the creative community, the design community, branding, the fashion industry, advertising and media, it?s all intertwined and we?re trying to help these companies,? Muhlstein added. ?We have the experience about the solid real estate fundamentals and the implementation but really for the next five years, I want to focus on the business strategies and how to couple the real estate decisions to the strategy.?
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