Three leading international property service firms, CB Richard Ellis (operating as CB Hillier Parker in the UK), DTZ and Jones Lang LaSalle are forming a joint venture company with international business publisher Reed Business Information to develop the first pan-European commercial property listings, information and data research portal for the property industry in Europe. The longer-term objective is to develop it into a leading transactions exchange that will set the industry standard for the commercial property market. The first phase of the development will include the UK, Ireland, Belgium, France, Germany, The Netherlands and Spain.