Jones Lang LaSalle ▪ Sale
Jones Lang LaSalle Incorporated
Type Public
Traded as NYSEJLL
Industry Real Estate
Founded 1999 merger of Jones Lang Wootton and LaSalle Partners
Headquarters Aon Center
Chicago, Illinois, USA
Area served Worldwide
Key people Sheila Penrose, Chairman;
Colin Dyer, President and CEO;
Lauralee Martin, CFO and COO;
Jeff Jacobson, CEO LaSalle Investment Management
Products Agency Leasing, Capital Markets, Consulting, Facilities Management, Project and Development Services, Property Management, Tenant Representation, Valuations, Hotels, Investment Management
Revenue Increase US$ 3.58 billion (2011)
Operating income Increase US$ 338 million (2011)
Net income Decrease US$ 251 million (2011)
AUM Increase US$ 47.7 billion (2011)
Total assets Increase US$ 3.93 billion (2011)
Total equity Increase US$ 1.69 billion (2011)
Employees 47,000 (2012)
Website www.joneslanglasalle.com

Jones Lang LaSalle Incorporated is a multinational financial and professional services 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.

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. This is the largest international merger in the real estate industry so far.

Jones Lang LaSalle India is the largest real estate company in India, which was the result of one of the 15 mergers and acquisitions that took place in the year 2007, for the purpose of growth and expansion of Jones Lang LaSalle.

Company size has increased in recent years through a combination of organic growth and mergers and acquisitions. Among the 30 M&As in 13 nations in the past three years was the 2008 acquisition of The Staubach Company, which added about 1,000 employees in the U.S.

In May 2011, Jones Lang LaSalle purchased King Sturge LLP for £197 million, making it the largest UK property company by turnover. The merged business operates in 70 EMEA markets across 30 countries employing 5,300 people providing integrated real estate services worldwide to investor, owner and occupier clients. The UK business will have 2,700 employees in 34 offices.

Overview[edit]

Jones Lang LaSalle
Aon Center in Chicago, which houses Jones Lang LaSalle's headquarters

Jones Lang LaSalle is headquartered in the Aon Center in Chicago, Illinois, where it also serves as building manager.

The company has about 47,000 employees including professional and support staff. It has approximately 180 offices worldwide and operates in over 750 locations in 60 countries. Global revenue in 2010 was $2.93 billion and the firm has a global portfolio of more than 1.6 billion square feet under management.

The company is the second largest publicly traded commercial real estate brokerage firm in the world. The major competitors include CB Richard Ellis, Cushman & Wakefield, Cassidy Turley, Colliers International and Grubb & Ellis.

In 2009, Jones Lang LaSalle received the California Sustainability Alliance's Sustainability Showcase Award, recognized for their mission to minimize buildings’ environmental impacts by creating real value in energy and sustainability for its clients and in its own operations. Jones Lang LaSalle established the first Sustainable University in their industry, training employees in development, management and leasing of sustainable, energy-efficient buildings.

Jones Lang LaSalle has been recognized as the best overall provider of corporate real estate services for the fourth consecutive time by the Watkins 2011 Survey of Corporate Real Estate Service Providers. The company was rated #1 overall and in several key categories, including use of cutting-edge technology, financial strength, reputation, and geographic scope.

In 2011, the company has been honoured with a number of awards at the prestigious annual Euromoney Real Estate Awards (2011), being voted number one Global Real Estate Advisor and Consultant.

Services[edit]

Agency Leasing covers space for property owners of all types such as Canary Wharf and Greenwich Peninsula in London; Île Seguin in Paris; Taiwan’s Taipei 101 Tower.

Capital Markets and Merchant Banking to help organizations buy and sell properties, and improve the financial impact of their real estate portfolios. The firm handled $82 billion (U.S. dollars) in transaction volume in 2007, and recent activities include the sale of a 432-acre (1.75 km) Denver Sun Microsystems technology campus to Conoco-Phillips.

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, both in the form of equity and debt, derivatives structuring and other investment banking services. Jones Lang LaSalle also delivers Capital Markets Services for hotel and hospitality assets and portfolios on a global basis, including investment sales, mergers and acquisitions, and financing. It provides services to assets that cover the hospitality spectrum: luxury properties; resorts; select service and budget hotels; golf courses; theme parks; casinos; spas; and pubs.

Consulting to develop workplace strategies such as occupancy planning, relocations, and energy and environmental sustainability initiatives. Current consulting projects include helping the United States military and Veterans Administration reduce and realign their installations and developing New York’s 1 World Trade Center site, which includes a 108-story main tower and September 11 Memorial & Museum.

Facilities Management for a variety of properties including office towers, retail and exhibition centers, and government, collegiate and industrial complexes. Recent activities include management of the Dubai World Trade Center and the “Bird’s Nest” Beijing National Stadium since its inception, including the 2008 Summer Olympics.

Project and Development Services to manage ground-up creation, building construction and major interior renovations. Recent projects include a $20 million “green” retrofit of New York’s Empire State Building in conjunction with the Clinton Climate Initiative, and ground-up development of One Bryant Park, New York City’s second-tallest skyscraper and the world’s first major office tower created to meet LEED platinum environmental standards.

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.

Jones Lang LaSalle Hotels, a division focused on real estate/financial services for the hospitality industry such as the one-time sale of 13 Japanese lodging facilities totaling 5,000 rooms, the largest single hotels transaction in Asia. Jones Lang LaSalle provides Advisory Services for hotel assets, including hotel valuations and appraisals, acquisition advice, asset management, strategic planning, management contract negotiation, consulting, industry research and project and development services for asset types covering the hospitality spectrum. The Company provides Energy and Sustainability Services to occupiers and investors. During 2010, it documented energy savings for its clients and reduced their greenhouse gas emissions by 563,000 tons.

LaSalle Investment Management, a subsidiary that makes real estate investments for clients through individual accounts and managed commingled funds. Its real estate investment products include direct investments through separate accounts and commingled funds, as well as indirect investments in publicly traded real estate investment trusts (REITs) and other real estate securities. The Company’s global real estate investment management business, which is a member of the Jones Lang LaSalle group, operates under the name of LaSalle Investment Management. LaSalle Investment Management provides clients with a range of real estate investment products and services in the public and private capital markets. The range of investment alternatives includes private investments in multiple real estate property types, including office, retail, industrial, health care and multi-family residential, either through investment funds that LaSalle Investment Management manages or through single client account relationships (separate accounts). It also offers indirect public investments, primarily in publicly traded real estate investment trusts (REITs) and other real estate equities. It has invested in direct real estate assets in 18 countries worldwide, as well as in public real estate companies traded on all stock exchanges. As of December 31, 2010, LaSalle Investment Management had a series of commingled investment funds, including 14 funds that invest in assets in the Americas, 10 funds that invest in assets located in Europe and five funds that invest in assets in Asia Pacific. It may engage in merchant banking activities. These include making investments of the firm’s capital to acquire properties in order to seed investment management funds before they have been offered to clients. LaSalle Investment Management also offers clients to invest in separate accounts focused on public real estate equity. The Company invests the capital of these clients principally in publicly traded securities of REITs and property company equities.

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

The Company competes with CB Richard Ellis Group, Inc.

Notable personnel[edit]

Roger Staubach, former Pro Football Hall of Fame quarterback for the Dallas Cowboys, joined Jones Lang LaSalle’s Board of Directors when his firm The Staubach Company was acquired in 2008.

See also[edit]

Portal icon Chicago portal
Portal icon Companies portal


References[edit]

  1. The Indian Express "Jones Lang, LaSalle merger", The Indian Express, March 19, 1999. Accessed June 8, 2008.
  2. "company". 
  3. National Real Estate Investor "Jones Lang LaSalle Acquires Staubach Co., Boosts Tenant Rep Platform," Jun 18, 2008
  4. King Sturge Website "King Sturge LLP Website," May 31, 2011
  5. PR Newswire "Jones Lang LaSalle Recommits to Aon Center for Its Headquarters", PR Newswire, September 20, 2004. Accessed March 17, 2009.
  6. Yahoo! "JLL: Key Statistics", Yahoo! Finance, 2009
  7. Hoover's "Fact Sheet, Jones Lang LaSalle"
  8. Bloomberg "Genco, Lazard, Massey, Nalco, Nova, Ryder: U.S. Equity Movers", Bloomberg, February 4, 2009 [1]. Accessed July 25, 2009.
  9. California Sustainability Alliance "Sustainability Showcase Awards," July 24, 2010
  10. California Sustainability Alliance "Jones Lang LaSalle," July 24, 2010
  11. Watkins 2011 Survey of Corporate Real Estate Service Providers
  12. Euromoney Real Estate Awards
  13. Reuters. "Barclays set for Canary Wharf expansion", Reuters. Accessed August 28, 2009
  14. Building Design, the Architect's website. "European office agency Team of the year". Accessed August 28, 2009.
  15. Business Immo "Île Seguin: Jones Lang LaSalle, consultant for Gecina", Accessed August 28, 2009.
  16. Dobson, Richard "IFirm bullish on filling up Taipei 101", Taipei Times. Accessed August 28, 2009.
  17. Cook, Ashley "ConocoPhillips Pays $58.5M for StorageTek Campus", Wall CoStar Group". Accessed October 14, 2009
  18. Coombs, Joe "Finalists brace for coming BRAC decision", Washington Business Journal. Accessed August 28, 2009
  19. Brown, Eliot "Freedom Rings Up! First Lease at World Trade Center Site", New York Observer. Accessed August 28, 2009.
  20. Schmidt, Melissa "Jones Lang LaSalle’s Global Approach a Success in Uneasy Times", Medill News Service. Accessed August 28, 2009.
  21. BBC news "Bird’s Nest Has Millennium Buzz", BBC. Accessed August 28, 2009
  22. Adis, Khalil "Empire State Building goes green under Jones Lang LaSalle", Property Report. Accessed August 28, 2009.
  23. Busch, Adam "Jones Lang LaSalle: Green Space Today’s January 2009 Firm of the Month", Accessed August 28, 2009.
  24. Yu, Hui-yong and Hyuga, Takahiko "Morgan Stanley to pay $2.4 Billion for Japan Hotels", Bloomberg. Accessed August 28, 2009.
  25. "Agency Leasing. Commercial Property Leasing Company". Retrieved January 2, 2013. 

External links[edit]

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Information source: wikipedia.org

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