Jones Lang LaSalle

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JLL
TypePublic
Traded asNYSEJLL
IndustryReal Estate
Founded1999 merger of Jones Lang Wootton and LaSalle Partners
HeadquartersAon Center
Chicago, Illinois, USA
Area servedWorldwide
Key peopleSheila Penrose, Chairman;
Colin Dyer, President and CEO;
Christie Kelly, CFO;
Jeff Jacobson, CEO LaSalle Investment Management
ProductsAgency Leasing, Capital Markets, Consulting, Facilities Management, Investment Management, Project and Development Services, Property Management, Tenant Representation, Valuations
RevenueIncrease US$ 4.0 billion (2013)
Operating incomeIncrease US$ 369 million (2013)
Net incomeIncrease US$ 285 million (2013)
AUMUS$ 48 billion (2013)
Total assetsIncrease US$ 4.597 billion (2013)
Total equityIncrease US$ 2.19 billion (2013)
Employees48,000 (2013)
Websitewww.jll.com
 
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JLL
TypePublic
Traded asNYSEJLL
IndustryReal Estate
Founded1999 merger of Jones Lang Wootton and LaSalle Partners
HeadquartersAon Center
Chicago, Illinois, USA
Area servedWorldwide
Key peopleSheila Penrose, Chairman;
Colin Dyer, President and CEO;
Christie Kelly, CFO;
Jeff Jacobson, CEO LaSalle Investment Management
ProductsAgency Leasing, Capital Markets, Consulting, Facilities Management, Investment Management, Project and Development Services, Property Management, Tenant Representation, Valuations
RevenueIncrease US$ 4.0 billion (2013)
Operating incomeIncrease US$ 369 million (2013)
Net incomeIncrease US$ 285 million (2013)
AUMUS$ 48 billion (2013)
Total assetsIncrease US$ 4.597 billion (2013)
Total equityIncrease US$ 2.19 billion (2013)
Employees48,000 (2013)
Websitewww.jll.com

JLL (Jones Lang LaSalle Incorporated) is a professional services and investment management company specializing in real estate. Global headquarters are located in Chicago, with an operational remit covering the Americas regional market. Sub-headquarters operate in London (covering the Europe, the Middle East and Africa regional market) and Singapore (covering the Asia Pacific regional market).

The Company’s real estate services include agency leasing, capital markets, tenant representation, real estate investment banking / merchant banking, property management, corporate finance, facilities management / outsourcing, hotel advisory, project and development management / construction, energy and sustainability services, valuations, value recovery and receivership services, consulting and investment management.

History and mergers[edit]

Jones Lang LaSalle was formed by the merger of Jones Lang Wootton, a British firm with origins dating back to 1783, and LaSalle Partners, an American company formed from a predecessor launched in 1968.[1]

Jones Lang Wootton opened its first US office in New York in 1975. In 1997, the initial public offering was completed by LaSalle Partners for the company's common stock in the market.

JLW and LaSalle Partners formed Jones Lang LaSalle in 1999, which was the largest international merger in the real estate industry at the time.

Through a combination of organic growth and mergers and acquisitions the company has grown in recent years. Notable among over 35 M&As in the last decade are the 2007 transaction that created Jones Lang LaSalle Meghraj,[2] the largest real estate firm in India and the 2008 acquisition of The Staubach Company, which added about 1,000 employees in the U.S.[3]

In May 2011, Jones Lang LaSalle purchased King Sturge LLP for £197 million, making it the largest UK property adviser in the UK.[4]

In 2014 the organisation shortened its name to JLL.[5]

Overview[edit]

Aon Center in Chicago, which houses JLL's headquarters

JLL is headquartered in the Aon Center in Chicago, Illinois.[6]

The company has about 53,000 employees including professional and support staff. It has over 200 offices worldwide in 75 countries. Global revenue in 2014 was $4 billion and the firm has a portfolio of 3.0 billion square feet under management.[7]

After CBRE Group, the company is the largest publicly traded commercial real estate brokerage firm in the world.[8] Other competitors include Cushman & Wakefield, DTZ,Cassidy Turley, Colliers International and Newmark Grubb Knight Frank.

Services[edit]

Agency Leasing covers space for commercial property owners of all types such as Canary Wharf[9] in London; Île Seguin[10] in Paris; Taiwan’s Taipei 101 Tower.[11]

Capital Markets and Real Estate Investment Banking to help organizations buy and sell properties, and improve the financial impact of their real estate portfolios.

Capital Markets Services includes institutional property sales and acquisitions, real estate financings, private equity placements, portfolio advisory activities, and corporate finance advice and execution.

Real Estate Investment Banking Services include sourcing capital, derivatives structuring and other investment banking services. JLL also delivers Capital Markets Services for hotel and hospitality assets and portfolios on a global basis, including investment sales, mergers and acquisitions, and financing.

Consulting to develop workplace strategies such as occupancy planning, relocations, and energy and environmental sustainability initiatives.

Facilities Management for a variety of properties including office towers, retail and exhibition centers, and government, collegiate and industrial complexes.

Hotels & Hospitality Group provides real estate services for luxury, select service and budget hotels; timeshare; convention centers; mixed-use developments and other hospitality assets. The wide range of services includes valuations and appraisals, investment sales, acquisition advice, asset management, strategic planning, hotel operator contract negotiation, strategic consulting, research and project and development services.

Project and Development Services to manage ground-up creation, building construction and major interior renovations.

Property Management services that provide on-site administration to help owners of office, industrial, retail and specialty properties reduce costs and enhance their property values.

Tenant Representation for organizations that lease large spaces.

Valuations that provide impartial assessments of real estate worth.

LaSalle Investment Management is a wholly owned subsidiary of JLL that makes real estate investments for clients. It offers a range of real estate investment products and services in the public and private capital markets. It has invested in direct real estate assets in 18 countries.

Other practices include Corporate Finance, Energy and Sustainability, Research, and Residential Agency. Aside from the commercial real estate industry, the company also serves the residential, industrial, rural and public sectors.

See also[edit]

References[edit]

  1. ^ "JLL - Our History". JLL. Retrieved 8 December 2014. 
  2. ^ "Jones Lang LaSalle and the Former Trammell Crow Meghraj Reach Agreement to Merge India Operations". BusinessWire India. 12 June 2007. Retrieved 8 December 2014. 
  3. ^ "Jones Lang LaSalle Acquires Staubach Co., Boosts Tenant Rep Platform". National Real Estate Investor. 18 June 2008. Retrieved 8 December 2014. 
  4. ^ "Jones Lang LaSalle Buys King Sturge to Overtake Competitors in U.K. Market". Bloomberg News. 27 May 2011. Retrieved 8 December 2014. 
  5. ^ "Jones Lang LaSalle becomes JLL". Design Week. 5 March 2014. Retrieved 8 December 2014. 
  6. ^ "Jones Lang LaSalle Recommits to Aon Center for Its Headquarters". PR Newswire. 20 September 2004. Retrieved 8 December 2014. 
  7. ^ "Jones Lang Lasalle Inc Company Profile". Hoovers. Retrieved 8 December 2014. 
  8. ^ "Top 10 Brokerage Firms". National Real Estate Investor. 1 April 2014. Retrieved 8 December 2014. 
  9. ^ "Barclays set for Canary Wharf expansion". Reuters. 24 April 2007. Retrieved 8 December 2014. 
  10. ^ "Gecina establishes Carrefour Management's headquarters in the "Anthos" building in Boulogne-Billancourt (92)". Reuters France. 7 June 2010. Retrieved 8 December 2014. 
  11. ^ "Firm bullish on filling up Taipei 101". Taipei Times. 14 September 2002. Retrieved 8 December 2014. 

External links[edit]