Jones Lang LaSalle

JLL, Facebook

Tennessee real estate giant Jones Lang LaSalle has signed a five-year contract in Governor Bill Haslam's plan to privatize property management on state public college and university campuses.

The Tennessee House and Senate speakers say they will seek a review of a no-bid contract with a real estate firm because it once counted Governor Bill Haslam among its investors.

The Haslam administration hired Chicago-based Jones Lang LaSalle for a $1 million contract to consult on office space issues. That deal has since evolved into a five-year, $38 million contract to manage all state-owned and leased properties outside of higher education.