JLL (company)
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Jones Lang LaSalle Incorporated (JLL) is a global
commercial real estate Commercial property, also called commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income. Commercial property includes office b ...
services company, founded in the United Kingdom with offices in 80 countries. The company also provides investment management services worldwide, including services to institutional and retail investors, and to
high-net-worth individual High-net-worth individual (HNWI) is a term used by some segments of the financial services industry to designate persons whose investible wealth (assets such as stocks and bonds) exceeds a given amount. Typically, these individuals are defined ...
s, as well as technology products through JLL Technologies, and VC investments via its PropTech fund, JLL Spark. The company is ranked 185 on the
Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along ...
. It is one of the "Big Three" commercial real estate services companies, alongside
Cushman & Wakefield Cushman & Wakefield plc is a global commercial real estate services firm. The company's corporate headquarters is located in Chicago, Illinois. Cushman & Wakefield is among the world's largest commercial real estate services firms, with revenues ...
and CBRE.


Operations

JLL is headquartered in
Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...
, Illinois, and as of October 2018 was the second-largest public brokerage firm in the world. The company has more than 98,000 employees in 80 countries, as of 2022. Services include investment management, asset management, sales and leasing, property management, project management, and development. In 2014, the organization shortened its name to JLL for marketing purposes, while the legal name remained Jones Lang LaSalle Incorporated. Former company president Christian Ulbrich succeeded Colin Dyer as CEO in October 2016. Karen Brennan was named CFO on June 22, 2020 effective July 15, 2020. Sheila Penrose served as board chairwoman starting in 2005, and was replaced by Siddharth ("Bobby") Mehta in 2020.


History

After LaSalle Partners' IPO in 1997, in 1999, it merged with Jones Lang Wootton to form Jones Lang LaSalle (JLL) as part of a $435 million deal. Jones Lang Wootton was a
London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...
auction An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition ex ...
eer that originated in the 1700s. By 1976, Jones Lang Wootton expanded into the United States real estate market in
New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
. The company had 4,000 employees in 33 countries around the time of the merger with LaSalle Partners. William Sanders founded real estate company International Development Corp in 1966 in
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. Sanders renamed the company LaSalle Partners in 1968 and relocated to Chicago, Illinois. The company first offered
investment banking Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated wit ...
, investment management, and land services. By 1997, LaSalle had grown into three business divisions, Management Services, Corporate and Financial Services, and Investment Management, with ten U.S. corporate offices and seven international offices. LaSalle Partners made an
initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
in 1996. JLL purchased The Staubach Company in 2008.
Roger Staubach Roger Thomas Staubach (, -; , -; born February 5, 1942), nicknamed "Roger the Dodger", "Captain America", and "Captain Comeback", is an American former professional football player who was a quarterback in the National Football League (NFL) for ...
served as executive chairman of JLL from 2008 until he retired in 2018. JLL merged with UK-based King Sturge in a £197 million deal in 2011. The combined business, with 2,700 employees and 43 offices, created the largest property agent in the UK, as reported by ''
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'' in 2011. The company acquired Irish-based Guardian Property Asset Management in 2015. LaSalle Investment Management, a subsidiary of JLL, managed $58 billion in real estate investments for institutional and retail clients, as of 2016. JLL had acquired 80 companies and established 100 offices worldwide by 2016. The company expanded from commercial real estate services to include property technology or "proptech", with the 2017 launch of its JLL Spark division. In June 2018, JLL Spark created a $100 million venture fund to invest in real estate start-ups, such as a technology to link office users with co-working spaces. JLL announced the acquisition of HFF in a deal worth $2 billion in March 2019. The acquisition was completed in July 2019 and worth $1.8 billion. In 2021, the company's technology division sold Stessa, the single-family rental asset management software company it acquired in 2018, to Roofstock as part of a deal in which JLL acquired a minority stake in Roofstock and it would provide services to JLL's clients. JLL manages the London offices of the social media company
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. In July 2021, JLL sought the removal of a cleaner from the offices when, in his capacity as a trade union representative, he organised a protest against a doubling of the cleaners’ workloads. In August 2021, JLL announced the acquisition of Skyline Al. In late 2021 and early 2022, JLL made two "proptech" acquisitions. In November 2021, it purchased the property management software company Building Engines, and in February 2022 it acquired Hank, a company developing AI-based technology to improve energy efficiency of buildings.


References

{{DEFAULTSORT:Jones Lang Lasalle Companies listed on the New York Stock Exchange Companies based in Chicago Real estate services companies of the United States Shopping center management firms Real estate companies established in 1999 Property services companies of the United Kingdom Commercial real estate companies 1999 establishments in Illinois