Jones Lang LaSalle, Inc. - JLL STOCK NEWS

Jones Lang LaSalle (NYSE: JLL) will release its fourth quarter 2021 results on February 28, 2022, at approximately 7:30 a.m. Eastern time. Following this, a live webcast and teleconference will occur at 9:00 a.m. Eastern time. Registration for the conference is encouraged ahead of time and can be completed through the Investor Relations website at ir.jll.com. JLL is a leading professional services firm with reported annual revenue of $16.6 billion in 2020.

JLL announced a successful arrangement of $690 million in financing for a portfolio of 44 net-leased properties across the U.S., totaling 6.85 million square feet. The capital was secured from Wells Fargo Bank as a two-year, floating-rate, non-recourse loan, with additional support from United Overseas Bank. The diverse portfolio, primarily leased to reliable tenants across industries such as e-commerce and logistics, spans 611 acres in high-growth markets. JLL's Capital Markets group facilitated this financial deal, showcasing their expertise in real estate financing.

JLL's latest Premium Office Rent Tracker reveals a significant shift towards environmentally sustainable office spaces, with 84% of surveyed premium buildings holding sustainability certifications. In prime markets, this figure reaches 100%. The report notes that urban core locations are seeing resilient rental rates, particularly in cities like New York and Hong Kong, which are now tied as the most expensive office markets globally. Demand for premium office spaces is largely driven by the banking, technology, and professional services sectors, with the U.S. Sun Belt experiencing a strong recovery.

On November 30, 2021, JLL announced the successful acquisition of Building Engines for approximately $300 million. This acquisition enhances JLL's commitment to integrating technology within the real estate sector, particularly in the management of property operations. Building Engines' platform, utilized by over 1,000 clients across 35,000 buildings, aims to streamline property management processes. With this integration, JLL anticipates improved alignment and a superior experience for real estate investors.

Tapestry, Inc. (NYSE: TPR) has announced the groundbreaking of its new North Las Vegas Fulfillment Center, expected to create over 400 jobs by 2029. The facility aims to enhance Tapestry's omni-channel capabilities and is projected to handle 22.2 million units annually across its brands, including Coach and Kate Spade. The NVFC will feature advanced technology and is designed for LEED Gold certification, reflecting Tapestry's commitment to sustainability. This strategic move is set to improve service delivery to West Coast customers and support company growth.

Commercial real estate firm JLL announces a significant expansion in Austin as Miro, a collaborative platform provider, leases 72,000 square feet at Colorado Tower. This move creates over 200 new job positions, marking Austin as Miro's largest U.S. hub and second largest globally. The company plans to grow its workforce from 165 to more than 200 by January 2022, reinforcing its rapid growth with 25 million users and 95% of Fortune 100 as clients. The new location offers modern amenities to enhance collaboration.

On November 8, 2021, JLL announced the successful sale of the Naples Beach Hotel & Golf Club, a 125-acre beachfront resort in Naples, Florida. JLL represented the seller, The Watkins Family, and the buyer is a partnership comprising The Athens Group and MSD Partners, L.P. The property will be redeveloped into the Naples Beach Club, featuring a Four Seasons managed hotel and luxury residences. Construction is scheduled to begin in 2022, with pre-sales for residential units already underway. This aligns with JLL's extensive experience in the hospitality sector, having completed over $83 billion in transactions.

Grady Health System marked a significant milestone with the "topping out" of the Correll Pavilion in Atlanta. Named after A.D. "Pete" Correll, the facility aims to enhance patient care and includes over 550,000 square feet of clinical space, increasing operating room capacity by 25% and clinic capacity by 45%. Funded by $96 million in private donations and matching bonds, the project is on track for completion by late Q3 2022. Over 500,000 work hours have been logged, with significant materials used, including 4000 tons of rebar.

On Nov. 4, 2021, JLL announced a $800 million joint venture with Arden Group and Arcapita Group focused on multi-tenant warehousing in major U.S. markets. The venture's initial acquisition includes an 18-property, 5-million-square-foot portfolio for $550 million across cities like Atlanta and Dallas. An additional $250 million investment will expand the portfolio to 32 properties totaling over 7 million square feet. The joint venture aims to increase asset value to $2 billion, targeting infill warehouses amidst growing logistics demand and rent growth.