The alliance between North Grand Mall owners and a renowned real estate firm paves the way for prospective mall renovations and additional property purchases, mall management officials said.

L&H Real Estate Group, the Chicago-based real estate firm that owns and operates North Grand Mall, 2801 Grand Ave., announced its alliance with Jones Lang LaSalle, a global real estate service and money management firm, on April 1.

Kurt Carlson, general manager of North Grand Mall, said the union has been in the works since May 2003.

With the alliance, Jones Lang LaSalle will assume the operation of L&H’s 16 properties located in Florida, Illinois, Indiana, Iowa, Ohio, Texas and Wisconsin.

Carlson said the merger was instigated when the scope of L&H’s objectives changed.

“L&H had formerly owned and managed malls and other retail properties; however, they have essentially eliminated that portion of business to focus their energies on the development and renovation of their current and new properties,” he said.

Jones Lang LaSalle will be responsible for the day-to-day operations of North Grand Mall and assisting in development, renovation, expansion and leasing, Carlson said.

Gayle Kantro, spokeswoman for Jones Lang LaSalle, said the company manages and provides a full array of real estate services for owners and operators of real estate properties. She said a company or institutional investor who owns a property will often hire a similar company to manage it.

“Our firm is focused on providing services to clients and helping them maximize their business,” she said. “It’s a way to better serve clients and receive dedicated expertise.”

Jones Lang LaSalle is a globally integrated company with offices located around the world, Kantro said. The group overseeing L&H’s properties is based in Chicago, she said.

The alliance with L&H makes Jones Lang LaSalle the largest third-party regional shopping center manager in the world, Kantro said. The company manages 54 shopping centers, totaling 35 million square feet, she said.

Carlson said the alliance is likely to generate additional monetary funding for L&H’s current and future properties.

“The alliance will increase the presence [of L&H],” he said.

“Jones Lang LaSalle is very well known in the property management scene, and they bring additional clout to the operation.”

North Grand Mall will continue to be owned by L&H and the current mall staff will become employees of Jones Lang LaSalle, Carlson said.

Kantro said the union will not disrupt the daily operations of the mall.

“The management team in North Grand Mall will maintain consistency to the customers in terms of operating the mall,” she said.

Carlson said the alliance ties into North Grand Mall’s plans for a potential renovation in the future.

“We really believe that Jones Lang LaSalle will bring additional resources to the table that will be able to draw upon to put forward our expansion and renovation plans here in Ames,” he said.