JLL (company)

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Jones Lang LaSalle Incorporated
Public company
Traded asNYSEJLL
S&P 400 Component
IndustryReal Estate
Founded1783; 236 years ago (1783)
1999; 20 years ago (1999) by the merger of Jones Lang Wootton and LaSalle Partners
FounderRichard Winstanley
HeadquartersAon Center
Chicago, Illinois, USA
Area served
Worldwide
Key people
Sheila A. Penrose, Chairman
Christian Ulbrich, President & CEO
Stephanie Plaines, CFO
DeAnne Julius, Independent Non-Executive Director
Roger Staubach, Executive Chairman, Americas and Director
ServicesFacility management
Real estate development
Leasing
Capital markets
LaSalle Investment Management
RevenueIncrease $16.318 billion (2018)
Increase $0.491 billion (2018)
Total assetsIncrease $10.025 billion (2018)
Total equityIncrease $3.6915 billion (2018)
Number of employees
88,000 (2019)
SubsidiariesLaSalle Investment Management
Websitewww.jll.com
Footnotes / references
[1]
Aon Center in Chicago, which houses JLL's headquarters

Jones Lang LaSalle Incorporated or JLL is a commercial real estate services firm. It is the second-largest company of its kind in the world, smaller only than CBRE Group.[1]

The company is ranked 189th on the Fortune 500.[2]

The company has been consistently named by the Ethisphere Institute as one of the world's most ethical companies.[3]

Operations[edit]

The company provides the following services:[1]

Service Line % of 2018 Revenues
Facility management 54%
Real estate development services 16%
Leasing 15%
Capital markets 7%
LaSalle Investment Management 3%
Total 100%

As of December 31, 2018, the company provided facility management services for 4.6 billion square feet (430,000,000 m2) of space.[1]

Offices[edit]

The company's headquarters are located in the Aon Center in Chicago, with an operational remit covering the Americas regional market. Regional headquarters are in London (covering the Europe, the Middle East and Africa markets), Singapore (covering the Asia Pacific market) and Moscow (covering Russia and the CIS markets). The company has over 300 offices worldwide in 80 countries.

History[edit]

The company dates back to 1783, when Richard Winstanley set up an auctioneer firm on Paternoster Row in London. In 1840, the grandson of the founder, James Winstanley, formed a partnership with James Jones. Jones passed the business to his son, Frederick Jones, who renamed the company Frederick Jones and Co. In 1872, Frederick Jones retired and his partner, C.A. Lang, renamed the company Jones Lang and Co.[4]

In 1939, the company merged with Wootton & Son to form Jones Lang Wooton (JLW) & Sons.[4]

In 1958, Ronald Collier, later the founder of Colliers International, established the company's first offices in Australia.

In 1962, the company expanded into Scotland and in 1965, the company expanded into Ireland and Brussels.

In 1975, the company opened its first office in the United States in New York.[4]

In 1968, a small group of investors launched IDC Real Estate in El Paso, Texas. In 1972, the company moved to Chicago. In 1977, the company, led by William D. Sanders, changed its named to LaSalle Partners.[5] In 1997, LaSalle Partners became a public company via an initial public offering.[4]

In March 1999, JLW and LaSalle Partners merged to form Jones Lang LaSalle.[6] [7]

In July 1999, Jones Lang Wootton California Inc. was sold to Kennedy Wilson.[8]

In 2007, the company acquired the Indian operations of the former Trammell Crow Meghraj.[9]

In 2008, the company acquired Staubach Co., led by Roger Staubach.[10][11][12]

In March 2011, the company acquired Keystone Partners.[13]

In May 2011, the company acquired King Sturge for £197 million to become the largest leasing company in the United Kingdom.[14][15]

In November 2015, the company acquired Guardian Property Asset Management.[16]

In July 2016, the company acquired BRG, a workplace technology firm.[17]

In August 2018, the company acquired Northwest Atlantic of Canada.[18]

In March 2019, the company announced the acquisition of HFF.[19]

References[edit]

  1. ^ a b c d "Jones Lang LaSalle Incorporated 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "Fortune 500: Jones Lang LaSalle". Fortune.
  3. ^ "JLL named one of 2019 World's Most Ethical Companies® for 12th year" (Press release). PR Newswire. February 27, 2019.
  4. ^ a b c d "Lasalle: History". LaSalle Investment Management.
  5. ^ Saul, Stephanie (October 29, 2018). "Beto O'Rourke Once Supported an El Paso Real Estate Deal. Barrio Residents Remember". The New York Times.
  6. ^ "LaSalle Partners Inc. of Chicago and Jones..." Chicago Tribune. March 16, 1999.
  7. ^ Ko, Kenneth (October 23, 1998). "JLW merger with LaSalle Partners to create global real-estate giant". South China Morning Post.
  8. ^ Robson, Douglas (July 11, 1999). "Binging Kennedy-Wilson buys up JLW California". American City Business Journals.
  9. ^ "Jones Lang LaSalle and the Former Trammell Crow Meghraj Reach Agreement to Merge India Operations" (Press release). Business Wire. June 12, 2007.
  10. ^ Johnson, Ben (June 18, 2008). "Jones Lang LaSalle Acquires Staubach Co., Boosts Tenant Rep Platform". National Real Estate Investor.
  11. ^ Fruehling, Douglas (June 16, 2008). "Jones Lang LaSalle and Staubach Co. announce merger". American City Business Journals.
  12. ^ Manor, Robert (June 17, 2008). "Jones Lang to acquire Staubach". Chicago Tribune.
  13. ^ Boye, Will (March 22, 2011). "Keystone Partners merges with Jones Lang LaSalle". American City Business Journals.
  14. ^ Packard, Simon (May 27, 2011). "Jones Lang LaSalle Buys King Sturge to Overtake Competitors in U.K. Market". Bloomberg News.
  15. ^ Ruddick, Graham (May 27, 2011). "Jones Lang LaSalle merges with King Sturge to become UK's biggest property agent". The Daily Telegraph.
  16. ^ "JLL moving into residential property with Guardian acquisition". The Irish Times. November 12, 2015.
  17. ^ "JLL Completes Acquisition of Leading Workplace Technology and Management Firm BRG" (Press release). Marketwatch. July 5, 2016.
  18. ^ "JLL acquires Northwest Atlantic in Canada" (Press release). PR Newswire. August 2, 2018.
  19. ^ "JLL to Accelerate Growth in Capital Markets Business Through Acquisition of HFF" (Press release). PR Newswire. March 19, 2019.