Welcome to our dedicated page for Jones Lang LaSalle news (Ticker: JLL), a resource for investors and traders seeking the latest updates and insights on Jones Lang LaSalle stock.
Jones Lang LaSalle Incorporated (NYSE: JLL) is a global leader in commercial real estate and investment management services, with a history spanning over 200 years. Originating in the United Kingdom, JLL now operates in more than 80 countries and employs over 108,000 people. The company offers a comprehensive range of services to real estate owners, occupiers, and investors, including leasing, property and project management, and capital markets advisory.
Key Services:
- Leasing
- Property and Project Management
- Capital Markets Advisory
- Investment Management
JLL's investment management arm, LaSalle Investment Management, manages over $74 billion for clients across various real estate strategies. The company's strong global platform and local expertise make it a valuable partner in navigating complex real estate markets.
In recent performance highlights, JLL reported an operating income of $290.4 million for the fourth quarter of 2023, up from $254.7 million the previous year. The full year's operating income was $576.5 million, compared to $868.1 million in 2022. Despite economic uncertainties and elevated interest rates, JLL's resilient business lines such as Workplace Management and Property Management have shown significant growth.
JLL is also actively involved in sustainability through initiatives like the JLL Foundation, which supports startups focused on climate change mitigation. Furthermore, the company continues to expand its capabilities with strategic acquisitions, such as the recent addition of SKAE Power Solutions to enhance its data center technical services.
For further information, visit JLL Investor Relations.
On Sept. 23, 2021, JLL announced the arrangement of $300 million in debt and equity financing for the redevelopment of 40 Thorndike, a 475,000-square-foot mixed-use project in East Cambridge, Massachusetts. The financing includes a construction loan from Bank OZK and equity through CBRE Global Investors. The project aims for LEED Gold Certification and will feature 421,000 square feet of Class A office space, 48 affordable apartments, and street-level retail. With office rents rising over 130% since 2010, 40 Thorndike is positioned to meet the demand in a high-growth market.
On September 20, 2021, JLL announced the arrangement of a $468.70 million construction loan for The Artise, a 25-story trophy office tower in downtown Bellevue, Washington. This project, covering approximately 609,000 square feet, is fully pre-leased to a prominent global e-commerce company and includes retail space and parking for 1,158 vehicles. Anticipated delivery is in Q4 2023. The development aims for LEED Gold certification. JLL’s Capital Markets team facilitated the loan through KKR for the joint venture of Schnitzer West and The Baupost Group.
JLL has secured $381 million in construction financing for the Bronx Logistics Center, a 1.3 million square feet last-mile distribution facility in the Bronx, New York. The financing was arranged for a partnership between Turnbridge Equities and Dune Real Estate Partners, funded by accounts managed by KKR. The location is strategically positioned for logistics, offering access to over 17 million consumers within a 30-minute drive. This development aligns with the rising demand for same-day delivery in e-commerce, projected to comprise over 25% of transactions by 2025.
On September 16, 2021, JLL announced the arrangement of $250 million in financing for the historic Dayton's Project in Minneapolis. This redevelopment will transform the renowned 700 Nicollet Mall into a modern space that includes Class A office, retail, and dining areas.
The financing was secured through a joint venture involving Winthrop Strategic Real Estate Fund and Fortress Investment Group. The project aims to honor the site's legacy while providing contemporary amenities and extensive commercial space, covering approximately 1.2 million square feet.
Jones Lang LaSalle (NYSE: JLL) will host a valuable webcast on September 29, featuring Greg O'Brien, CEO, Markets. The event is scheduled from 10 - 11 a.m. Eastern time and will include a business overview and a live Q&A session. O'Brien, part of the Global Executive Board since January 2021, oversees JLL's regional and local market operations. The webcast registration is available on the Investor Relations website and will be accessible for replay for 90 days post-event.
Jones Lang LaSalle (NYSE: JLL) appointed Siddharth Taparia as Chief Marketing Officer, effective immediately. He will oversee JLL's global marketing strategy and activities. JLL CEO Christian Ulbrich emphasized Taparia's experience in leading marketing teams in complex organizations. Taparia, previously with SAP, aims to enhance JLL's brand equity and client connections. JLL reported $16.6 billion in revenue for 2020 and operates in over 80 countries. This strategic hiring aligns with JLL's commitment to drive workplace flexibility, technology, and sustainability solutions.
JLL announced the introduction of the MIT Tech Tracker, an innovative online tool designed to analyze and forecast emerging technologies in real estate. Developed in collaboration with MIT's Real Estate Innovation Lab, this platform utilizes machine learning to provide data-driven insights on various technologies from their inception to market readiness. Key technologies highlighted include 5G, Virtual Reality, and IoT. JLL emphasizes the importance of understanding technological advancements to meet sustainability goals and enhance property management.
The number of real estate technology startups has surged by 300% in the last decade, with US$9.7 billion in funding reported in the first half of 2021, marking the highest first-half activity on record. As technology adoption accelerates due to COVID-19, established companies are now attracting more investment, indicating a trend towards consolidation in the sector. The built environment technology startups have collectively raised over US$97 billion in the past decade, with significant contributions from the U.S. and China.
Anchor Line Partners, JLL, and Eden Health have partnered to introduce premium healthcare amenities at One Post Office Square in Boston. This initiative provides tenants a dedicated on-site healthcare team offering services like primary care and mental health support. The building's ownership is sponsoring 4,500 memberships over three years. This partnership marks Eden Health's first physical clinic in Boston, enhancing tenant wellness and productivity while reducing absenteeism. The property already has tenants signed for about 185,000 square feet, reflecting strong demand and a proactive approach to tenant needs.
On October 1, 2021, JLL (NYSE: JLL) will take over the management of Ivanhoé Cambridge's Canadian shopping centers, marking a significant partnership in retail asset management. Many retail employees from Ivanhoé Cambridge are expected to join JLL Canada, which plans to establish an office in Québec City. The collaboration aims to improve sustainability and operational efficiency while seeking to achieve net zero carbon by 2040. JLL will also create a Center of Excellence for Sustainability in Québec to enhance innovative practices in the retail sector.
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