JLL (company)(Redirected from Jones Lang LaSalle)
Jones Lang LaSalle Incorporated or JLL is an American professional services and investment management company specializing in real estate. Since March 2014 it has officially marketed itself under the abbreviation "JLL". 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), Singapore (covering the Asia Pacific regional market) and Moscow (covering Russia and the CIS regional market).
|Traded as||NYSE: JLL|
S&P 400 Component
|Founded||1999 merger of Jones Lang Wootton and LaSalle Partners|
Chicago, Illinois, USA
|Sheila A. Penrose|
(Chairman of the Board)
(President & CEO)
Christie B. Kelly
(Vice President & CFO)
Project & Development Services
|Revenue||US$ 6.80 billion (2016)|
|US$ 440.6 million (2016)|
|US$ 334.4 million (2016)|
|AUM||US$ 60.1 billion (2016)|
|Total assets||US$ 7.63 billion (2016)|
|Total equity||US$ 2.81 billion (2016)|
Number of employees
|81,900  (2017)|
|Footnotes / references|
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.
After CBRE Group, the company is the largest publicly traded commercial real estate brokerage firm in the world.
History and mergersEdit
Jones Lang LaSalle is the result of a series of company mergers and acquisitions, the most recent of which is the merger of Jones Lang Wootton with LaSalle Partners.
The oldest predecessor entity dates back to 1783, when Richard Winstanley set up an auctioneer firm in Great Britain. Frederick Jones formed a partnership with CA Lang and by 1872, the firm was known as Jones Lang & Company. JL & Co. merged with Wootton & Son in 1939 to form Jones Lang Wooton (JLW) & Sons. Jones Lang Wootton opened its first US office in New York in 1975.
In the United States, in 1968, a small group of investors launched IDC Real Estate in El Paso, Texas. Not long afterwards, William D. Sanders founded, in Chicago, Illinois, LaSalle Partners, which included the IDC assets. 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, 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.
In 2014 the organization shortened its name to JLL for marketing purposes, while the legal name remained Jones Lang LaSalle.
In November 2015, the company announced that they're moving into the residential property market with the acquisition of Guardian Property Asset Management.
In June 2016, the company announced they are moving into workplace technology and management with the acquisition of BRG.
A Fortune 500 company, JLL has about 80,000 employees including professional and support staff. It has over 300 offices worldwide in 80 countries. Global revenue in 2017 was $7.9 billion and the firm has a portfolio of 4.6 billion square feet (430,000,000 m2) under management.
After CBRE Group, the company is the largest publicly traded commercial real estate brokerage firm in the world. Other competitors include Cushman & Wakefield, Colliers International and Newmark Grubb Knight Frank.
- "Jones Lang LaSalle". Fortune. Retrieved 2018-12-16.
- "US SEC: Form 10-K 2016". U.S. Securities and Exchange Commission. Missing or empty
- "Jones Lang LaSalle becomes JLL". Design Week. 5 March 2014. Retrieved 8 December 2014.
- "Our history".
- Saul, Stephanie (29 October 2018). "Beto O'Rourke Once Supported an El Paso Real Estate Deal. Barrio Residents Remember". The New York Times. Retrieved 31 October 2018.
Mr. Sanders, now 77, had grown up in El Paso, attended Cornell, then started the national real estate company LaSalle Partners, headquartered in Chicago.
- "JLL - Our History". JLL. Retrieved 8 December 2014.
- "Jones Lang LaSalle and the Former Trammell Crow Meghraj Reach Agreement to Merge India Operations". BusinessWire India. 12 June 2007. Retrieved 8 December 2014.
- "Jones Lang LaSalle Acquires Staubach Co., Boosts Tenant Rep Platform". National Real Estate Investor. 18 June 2008. Retrieved 8 December 2014.
- "Jones Lang LaSalle Buys King Sturge to Overtake Competitors in U.K. Market". Bloomberg News. 27 May 2011. Retrieved 8 December 2014.
- "JLL moving into residential property with Guardian acquisition". The Irish Times. Retrieved 12 November 2015.
- "JLL to Acquire Leading Workplace Technology and Management Firm BRG". www.brg.com. Retrieved 2016-06-07.
- "Jones Lang LaSalle Recommits to Aon Center for Its Headquarters". PR Newswire. 20 September 2004. Retrieved 8 December 2014.
- "Jones Lang Lasalle Inc Company Profile". Hoovers. Retrieved 8 December 2014.
- "Top 10 Brokerage Firms". National Real Estate Investor. 1 April 2014. Retrieved 8 December 2014.
- "JLL Named a World's Most Ethical Company for 10th Consecutive Year". yahoo.com. Marketwired. 13 Mar 2017. Retrieved 31 August 2017.