Jones Lang LaSalle Overview

Jones Lang LaSalle

Commercial real estate services and investment management are the areas of expertise for the financial and professional services company Jones Lang LaSalle. The company offers a variety of services, such as tenant representation for businesses renting office, industrial, and retail space; consulting to help businesses develop workplace strategies like occupancy planning, relocations, and energy and environmental sustainability initiatives; project and development services to manage new construction, building construction, and significant interior renovations; capital markets and real estate investment banking to help businesses buy property management services, which provide on-site administration to help owners of office, industrial, retail, and specialty properties reduce costs and enhance their property values; facilities management for a variety of properties, including office towers, retail and exhibition centers, and government, collegiate, and industrial complexes; valuations, which provide unbiased assessments of real estate worth through more than 200 corporate offices in 70 countries.

Jones Lang Wootton, a British corporation founded in 1783, and LaSalle Partners, an American business created from a predecessor established in 1968, came together to form Jones Lang LaSalle. In 1975, Jones Lang Wootton established its first US office in New York. LaSalle Partners completed the company’s first public offering for its common shares in the market in 1997.

Following its initial public offering (IPO) in1997, LaSalle Partners joined with Jones Lang Wootton to create Jones Lang LaSalle (JLL) in 1999 as part of a $435 million agreement. Beginning in the 1700s, Jones Lang Wootton was a prominent auctioneer in London. In New York City, Jones Lang Wootton began to enter the American real estate market by 1976. When the company merged with LaSalle Partners, there were 4,000 workers working for it across 33 nations.

International Development Corp, a real estate company founded by William Sanders in 1966 in El Paso, Texas, was renamed LaSalle Partners in 1968 and moved to Chicago, Illinois. The business initially provided investment banking, investment management, and land services. By 1997, LaSalle had expanded into three business divisions: management services, corporate and financial services, and investment management, with ten U.S. corporate offices and seven regional offices.

The Staubach Company was bought by JLL in 2008. From 2008 through his retirement in 2018, Roger Staubach led JLL as executive chairman. In 2011, JLL acquired King Sturge, a company established in the UK, for £197 million. According to The Telegraph in 2011, the united company, which had 2,700 staff and 43 offices, became the largest property agent in the UK. In 2015, the business purchased Guardian Property Asset Management, which is situated in Ireland. As of 2016, JLL affiliate LaSalle Investment Management managed $58 billion in real estate assets for institutional and retail clients. By 2016, JLL has acquired 80 businesses and opened 100 locations globally.

With the launch of the company’s JLL Spark division in 2017, the company branched out from providing commercial real estate services to include property technology, or “proptech”. In June 2018, JLL Spark established a $100 million venture fund to invest in real estate start-ups, such as a tool that connects office users with co-working spaces.

In March 2019, JLL announced it’s plans to acquire HFF for $2 billion. The acquisition, which cost about $1.8 billion to complete, was finalized in July 2019.

As part of a deal in which JLL purchased a minority share in Roofstock and it agreed that it would offer it’s services to JLL’s clients, the business’s technology division sold Stessa, the single-family rental asset management software startup it had acquired in 2018, to Roofstock in 2021.

The Facebook offices in London are overseen by JLL, a social media business. When a cleaner organized a protest in July 2021 against a doubling of the cleaners’ workloads in his position as a trade union representative, JLL sought to have the cleaners job terminated and the cleaner removed from the offices.

JLL announced the purchase of Skyline Al in August 2021.

Early in 2022 and late in 2021, JLL acquired two “proptech” companies. It bought Building Engines, a provider of property management software, in November 2021. In February 2022, it bought Hank, a company that was working on AI-based building efficiency technology. JLL acquired and amalgamated with Dwyer Lynch & Co, a rent advisory and rent review-focused surveying company, in June 2022.

JLL, which has its headquarters in Chicago, Illinois, was the second-largest public brokerage firm in the world as of October 2018. As of 2022, the company will have more than 98,000 employees working in 80 different countries.

Sales and leasing, property management, project management, and development are among the services provided. In 2014, the company shortened its name to JLL for marketing purposes, but its legal name remained Jones Lang LaSalle Incorporated.

Christian Ulbrich, a former business president, succeeded Colin Dyer as CEO in October 2016. As of July 15^th,2020, Karen Brennan served as CFO, beginning on June 22^nd, 2020. Beginning in 2005, Sheila Penrose presided over the board of directors. Siddharth (“Bobby”) Mehta succeeded her in that position in 2020.

As of the year 2021, the company had a revenue of 19.4 billion dollars, a net income of 961 million dollars and an employee strength of 98,000 employees.