Jones Lang LaSalle
Encyclopedia
Jones Lang LaSalle, Inc. 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).
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. This is largest international merger in the real estate industry so far.
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.
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 in 34 offices.
in Chicago, Illinois, where it also serves as building manager.
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.
The company is the second largest publicly-traded commercial real estate brokerage firm in the world. 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, 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.
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.
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.
Agency Leasing covers space for property owners of all types such as Canary Wharf
and Greenwich Peninsula
in London; Île Seguin
in Paris; Taiwan’s Taipei 101
Tower.
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 acres (1.7 km²) Denver Sun Microsystems
technology campus to Conoco-Phillips.
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 and developing New York’s 1 World Trade Center
site, which includes a 108-story main tower and September 11 Memorial & Museum.
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 and the “Bird’s Nest” Beijing National Stadium since its inception, including the 2008 Summer Olympics.
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, 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.
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.
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.
, 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.
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
. 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
Europe, the Middle East and Africa
Europe, the Middle East and Africa, usually abbreviated to EMEA, is a regional designation used for government, marketing and business purposes...
regional market) and Singapore (covering the Asia Pacific regional market).
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.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. This is largest international merger in the real estate industry so far.
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.
In May 2011, Jones Lang LaSalle purchased King Sturge
King Sturge
King Sturge was an international property consultancy with over 210 offices and 4,200 staff in 45 countries. They operated throughout the UK and Europe and had associations and partners in Asia Pacific and North, Central and South America...
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 in 34 offices.
Overview
Jones Lang LaSalle is headquartered in the Aon CenterAon Center (Chicago)
The Aon Center is a modern skyscraper in the Chicago Loop, Chicago, Illinois, United States, designed by architect firms Edward Durell Stone and The Perkins and Will partnership, and completed in 1973 as the Standard Oil Building...
in Chicago, Illinois, where it also serves as building manager.
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.
The company is the second largest publicly-traded commercial real estate brokerage firm in the world. The major competitors include CB Richard Ellis
CB Richard Ellis
CBRE Group, Inc. , a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm . The Company has approximately 31,000 employees , and serves real estate owners, investors and occupiers through more than 300 offices worldwide...
, Cushman & Wakefield, Cassidy Turley
Cassidy Turley
Cassidy Turley is a privately owned commercial real estate services firm. It was launched on March 1, 2010 with the unification of nine regional firms across the U.S. Cassidy Turley has approximately 3,400 employees in 60 national offices and manages a property portfolio of 455 million square feet...
, Colliers International
Colliers International
Colliers International is a global commercial real estate services organization with approximately 12,500 professionals in more than 500 offices in 61 countries....
and Grubb & Ellis.
In 2009, Jones Lang LaSalle received the California Sustainability Alliance's
California Sustainability Alliance
The California Sustainability Alliance is an organization funded by the California IOUs to bring together key stakeholders needed to overcome the obstacles of sustainability. The Alliance was designed in 2008 to help meet the State’s aggressive climate, energy and other resource and environmental...
Sustainability Showcase Award, 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.
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.
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.
Services
The company’s major businesses include:Agency Leasing covers space for property owners of all types such as Canary Wharf
Canary Wharf
Canary Wharf is a major business district located in London, United Kingdom. It is one of London's two main financial centres, alongside the traditional City of London, and contains many of the UK's tallest buildings, including the second-tallest , One Canada Square...
and Greenwich Peninsula
Greenwich Peninsula
Greenwich Peninsula is an area of South London, England, located in the London Borough of Greenwich.The peninsula is bounded on three sides by a loop of the Thames, between the Isle of Dogs and Silvertown. To the south is the rest of Greenwich, to the south-east is Charlton.The peninsula lies...
in London; Île Seguin
Île Seguin
Île Seguin is an island on the Seine river between Boulogne-Billancourt and Sèvres, in the west suburbs of Paris, France.Île Seguin was home to a Renault factory, constructed between 1929 and 1934. With 30,000 laborers at its peak, the last car from the Renault production line was a Renault 5...
in Paris; Taiwan’s Taipei 101
Taipei 101
Taipei 101 , formerly known as the Taipei World Financial Center, is a landmark skyscraper located in Xinyi District, Taipei, Taiwan. The building ranked officially as the world's tallest from 2004 until the opening of the Burj Khalifa in Dubai in 2010...
Tower.
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 acres (1.7 km²) Denver Sun Microsystems
Sun Microsystems
Sun Microsystems, Inc. was a company that sold :computers, computer components, :computer software, and :information technology services. Sun was founded on February 24, 1982...
technology campus to Conoco-Phillips.
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 and developing New York’s 1 World Trade Center
World Trade Center
The original World Trade Center was a complex with seven buildings featuring landmark twin towers in Lower Manhattan, New York City, United States. The complex opened on April 4, 1973, and was destroyed in 2001 during the September 11 attacks. The site is currently being rebuilt with five new...
site, which includes a 108-story main tower and September 11 Memorial & Museum.
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 and the “Bird’s Nest” Beijing National Stadium since its inception, including the 2008 Summer Olympics.
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, 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.
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.
LaSalle Investment Management
LaSalle Investment Management
LaSalle Investment Management is a investment management firm specializing in real estate. The firm is unique within the industry in that it invests solely in real estate and no other asset class....
, 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
Security (finance)
A security is generally a fungible, negotiable financial instrument representing financial value. Securities are broadly categorized into:* debt securities ,* equity securities, e.g., common stocks; and,...
.
Aside from the commercial real estate industry, the company also serves the residential and government sectors.
Notable personnel
Roger StaubachRoger Staubach
Roger Thomas Staubach is a businessman, Heisman Trophy winner and legendary Hall of Fame former quarterback for the Dallas Cowboys from 1969 until 1979. Staubach was instrumental in developing the Cowboys into becoming one of the best teams of the 1970s and led the team to nine of the Cowboys'...
, former Pro Football Hall of Fame
Pro Football Hall of Fame
The Pro Football Hall of Fame is the hall of fame of professional football in the United States with an emphasis on the National Football League . It opened in Canton, Ohio, on September 7, 1963, with 17 charter inductees...
quarterback for the Dallas Cowboys
Dallas Cowboys
The Dallas Cowboys are a professional American football franchise which plays in the Eastern Division of the National Football Conference of the National Football League . They are headquartered in Valley Ranch in Irving, Texas, a suburb of Dallas...
, joined Jones Lang LaSalle’s Board of Directors when his firm The Staubach Company was acquired in 2008.
See also
- Cassidy TurleyCassidy TurleyCassidy Turley is a privately owned commercial real estate services firm. It was launched on March 1, 2010 with the unification of nine regional firms across the U.S. Cassidy Turley has approximately 3,400 employees in 60 national offices and manages a property portfolio of 455 million square feet...
- Aon Center (Chicago)Aon Center (Chicago)The Aon Center is a modern skyscraper in the Chicago Loop, Chicago, Illinois, United States, designed by architect firms Edward Durell Stone and The Perkins and Will partnership, and completed in 1973 as the Standard Oil Building...
, company headquarters - DeAnne JuliusDeAnne JuliusDeAnne Shirley Julius is a former CIA analyst and a British-based American economist, notable as a founder member of the Monetary Policy Committee of the Bank of England. She has also worked at the World Bank and extensively in the private sector, and since July 2003 she has been Chairman of...
, Independent Non-Executive Director - Roger StaubachRoger StaubachRoger Thomas Staubach is a businessman, Heisman Trophy winner and legendary Hall of Fame former quarterback for the Dallas Cowboys from 1969 until 1979. Staubach was instrumental in developing the Cowboys into becoming one of the best teams of the 1970s and led the team to nine of the Cowboys'...
, Executive Chairman, Americas and Director - Lauralee MartinLauralee MartinLauralee Martin is an American business executive and Chief Financial Officer and Chief Operating Officer of Jones Lang LaSalle, a position she has held since January 2002.-Education & experience:...
, Chief Operating and Financial Officer, Executive Vice President, Director