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) 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.
After CBRE Group, the company is the largest publicly traded commercial real estate brokerage firm in the world.
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History and mergers
Jones Lang LaSalle was formed by the merger of Jones Lang Wootton, a British firm founded by Richard Winstanley in 1783, becoming Jones Lang & Company in 1872 after Frederick Jones forms a partnership with CA Lang and merging with Wootton a& Son in 1939 to form JLW, and LaSalle Partners, a US 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, 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 May 2011, Jones Lang LaSalle purchased King Sturge LLP for £197 million, making it the largest UK property adviser in the UK.
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.
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Overview
Jones Lang Lasalle is an Investment management and professional services company specializing in real estate. JLL is headquartered in the Aon Center in Chicago, Illinois.
The company which is one of US Fortune 500 companies has about 53,000 employees including professional and support staff. It has over 230 offices worldwide in 80 countries. Global revenue in 2014 was $4 billion and the firm has a portfolio of 3 billion square feet (280,000,000 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.
In 2017 JLL was named one of the World's Most Ethical Companies by the Ethisphere Institute for the tenth consecutive year.
See also
- Aon Center (Chicago), company headquarters
- DeAnne Julius, Independent Non-Executive Director
- Roger Staubach, Executive Chairman, Americas and Director
References
Source of the article : Wikipedia
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