- Jones Lang LaSalle
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Jones Lang LaSalle, Inc. 
Type Public (NYSE: JLL) Industry Real Estate Founded 1999 merger of Jones Lang Wootton and LaSalle Partners Headquarters 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 ManagementProducts Agency Leasing, Capital Markets, Consulting, Facilities Management, Project and Development Services, Property Management, Tenant Representation, Valuations, Hotels, Investment Management Revenue 
US $ 2.93 billion (2010)Operating income US $ 260 million (2010)Net income US $ 154 million (2010)Total assets US $ 3.35 billion (2010)Total equity US $ 31.57 billion (2010)Employees 40,300 (2010) Website www.joneslanglasalle.com Jones Lang LaSalle, Inc. NYSE: JLL 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).
Contents
History and mergers
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]
In New York, Jones Lang Wootton opened its first US office 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 joined hands and came together to form Jones Lang LaSalle in 1999, and it is known to be the largest international merger in the real estate industry till date.[2]
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.[3]
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 across 34 offices. [4]
Overview
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.[5]
The company has about 40,300 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.[6][7]
The company is the second largest publicly-traded commercial real estate brokerage firm in the world.[8] 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,[9] 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.[10]
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.[11]
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.[12]
Services
The company’s major businesses include:
Agency Leasing covers space for property owners of all types such as Canary Wharf[13] and Greenwich Peninsula[14] in London; Île Seguin[15] in Paris; Taiwan’s Taipei 101 Tower.[16]
Capital Markets 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 km2) Denver Sun Microsystems technology campus to Conoco-Phillips.[17]
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[18] and developing New York’s 1 World Trade Center site, which includes a 108-story main tower and September 11 Memorial & Museum.[19]
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[20] and the “Bird’s Nest” Beijing National Stadium since its inception, including the 2008 Summer Olympics.[21]
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,[22] 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.[23]
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.[24]
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.
Aside from the commercial real estate industry, the company also serves the residential and government sectors.[13]
Corporate Social Responsibility
Jones Lang LaSalle, being a good and responsible corporate citizen around the globe, takes full responsibility and accountability for its environmental, social and economic operations. JLL has the global reputation of uncompromising candor, conscientious conduct, corporate governance and transparency. It supports every aspect of the social responsibility agenda of the corporate sector but is mainly concerned about one area in particular, which is environmental sustainability and energy management.
Environment JLL's capability gives them the scope to drive change which brings the impact of commercial real estate on the environment to the minimum.[25]
Workplace The company focuses on constructing and maintaining a rewarding and embracing workplace for its people all over the globe. It strives to invite and keep the most talented and adept individuals boosting and accrediting them to succeed.
Diversity By cultivating productive and dynamic blend of people and concepts, JLL embellishes their service adequacy and the associations in which they operate. It harbors an all-encompassing environment which values the richness of their distinctness and shows the diversified world in which they work and function.
Community and Society Jones Lang LaSalle strives to be good and responsible citizens wherever they live and operate.
Ethics and Corporate Governance The company has the global stature for its uncompromising integrity, ethical conduct and corporate practices. Its Code of Business Ethics and Vendor Code of Conduct are followed by its own members and all those who do business and operate on behalf of the company. They are as follows;
Code of Business Ethics: Jones Lang LaSalle's Code of Business Ethics helps its employees to get a better understanding of the company's duties and responsibilities. The Code constitutes different sections that addresses the responsibilities and answerability to its clients, business associates, stakeholders, and the communities and governments in the countries they operate in. Its Board of Directors members completely support and behest the firm's compliance with the Code.
Vendor Code of Conduct: The firm has faith in its vendors, including companies and individuals who provide direct services to its clients, will honor its pledge and obligation to integrity. While vendors are contemplated as independent entities, their functioning and business practices can be reflected upon the company's brand and prestige. It expects all vendors to comply to the Vendor Code of Conduct.
Notable personnel
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.
Careers at Jones Lang LaSalle
A career at Jones Lang LaSalle puts one in the center of one of the biggest, most successful and sophisticated real estate and investment management companies in the world, commercially. It works with every type of real estate client in more than 60 countries, it truly drives real value in a dynamic world.[26] The ideas created at Jones Lang LaSalle, the work strategies formed and the work done by the employees have a long and lasting impact on the global real estate scenario.
Jones Lang LaSalle invests for constructing and cultivating professionals through its various training and development sessions and programmes. These professionals become the credible advisors and counsellors as they provide value to the customers and clients. The managers guide and encourage the trainees and the new employees, formally as well as informally on a regular basis so they can inculcate new skills.
JLL, which is a global firm committed to prosper and grow, gives its people the pervasive opportunity to grow with the company. It believes that there is always scope for improvement and so it regularly teaches its employees the art of development and improvement, and learning itself too along the way.
See also
- Aon Center (Chicago), company headquarters
- DeAnne Julius, Independent Non-Executive Director
- Roger Staubach, Executive Chairman, Americas and Director
- Lauralee Martin, Chief Operating and Financial Officer, Executive Vice President, Director
References
- ^ The Indian Express "Jones Lang, LaSalle merger", The Indian Express, March 19, 1999. Accessed June 8, 2008.
- ^ "company". http://www.joneslanglasalle.com/Pages/JonesLangLaSalle-KeyFacts.aspx.
- ^ National Real Estate Investor "Jones Lang LaSalle Acquires Staubach Co., Boosts Tenant Rep Platform," Jun 18, 2008
- ^ King Sturge Website "King Sturge LLP Website," May 31, 2011
- ^ PR Newswire "Jones Lang LaSalle Recommits to Aon Center for Its Headquarters", PR Newswire, September 20, 2004. Accessed Mar 17, 2009.
- ^ Yahoo! "JLL: Key Statistics", Yahoo! Finance, 2009
- ^ Hoover's "Fact Sheet, Jones Lang LaSalle"
- ^ Bloomberg "Genco, Lazard, Massey, Nalco, Nova, Ryder: U.S. Equity Movers", Bloomberg, 4 February 2009 [1]. Accessed 25 July 2009.
- ^ California Sustainability Alliance "Sustainability Showcase Awards," July 24, 2010
- ^ California Sustainability Alliance "Jones Lang LaSalle," July 24, 2010
- ^ Watkins 2011 Survey of Corporate Real Estate Service Providers [2]
- ^ Euromoney Real Estate Awards [3]
- ^ a b Reuters. "Barclays set for Canary Wharf expansion", Reuters. Accessed Aug 28, 2009
- ^ Building Design, the Architect's website. "European office agency Team of the year". Accessed Aug 28, 2009.
- ^ Business Immo "Île Seguin: Jones Lang LaSalle, consultant for Gecina", Accessed Aug 28, 2009.
- ^ Dobson, Richard "IFirm bullish on filling up Taipei 101", Taipei Times. Accessed Aug 28, 2009.
- ^ Cook, Ashley "ConocoPhillips Pays $58.5M for StorageTek Campus", Wall CoStar Group". Accessed Oct 14, 2009
- ^ Coombs, Joe "Finalists brace for coming BRAC decision", Washington Business Journal. Accessed Aug 28, 2009
- ^ Brown, Eliot "Freedom Rings Up! First Lease at World Trade Center Site", New York Observer. Accessed Aug 28, 2009.
- ^ Schmidt, Melissa "Jones Lang LaSalle’s Global Approach a Success in Uneasy Times", Medill News Service. Accessed Aug 28, 2009.
- ^ BBC news "Bird’s Nest Has Millennium Buzz", BBC. Accessed Aug 28, 2009
- ^ Adis, Khalil "Empire State Building goes green under Jones Lang LaSalle", Property Report. Accessed Aug 28, 2009.
- ^ Busch, Adam "Jones Lang LaSalle: Green Space Today’s January 2009 Firm of the Month", Accessed Aug 28, 2009.
- ^ Yu, Hui-yong and Hyuga, Takahiko "Morgan Stanley to pay $2.4 Billion for Japan Hotels", Bloomberg. Accessed Aug 28, 2009.
- ^ "Company". http://www.joneslanglasalle.com/Pages/CorporateSocialResponsibility.aspx.
- ^ "jll". http://www.joneslanglasalle.com/Pages/CareersatJonesLangLaSalle.aspx.
External links
Categories:- Companies listed on the New York Stock Exchange
- Companies based in Chicago, Illinois
- Real estate companies of the United States
- Real estate brokers
- Shopping property management firms
- Companies established in 1999
- UK Commercial Property Consultants
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