Jones Lang LaSalle Incorporated provides global commercial real estate services and investment management through JLL and LaSalle Investment Management. News about JLL commonly covers leasing advisory, workplace, project and property management, capital markets assignments, investment sales, debt advisory, hotel and hospitality transactions, and mandates tied to office, industrial, hotel, multi-family, retail and data center properties.
Company updates also include quarterly operating results, margin and revenue trends across advisory and recurring service lines, capital allocation actions such as share repurchases, strategy briefings, and JLL research on real estate markets. LaSalle Investment Management updates relate to client investment activity across private assets and publicly traded real estate securities.
The sale of The Berkman, a 350-unit multifamily community in Rochester, Minnesota, to CBRE Investment Management was announced by Kayne Anderson Real Estate and Alatus. The property, strategically located near the Mayo Clinic, offers numerous amenities and sustainable features, including efficient electric heat pumps and low-flow plumbing. The sale highlights the property's strong demographic fundamentals and its appeal to the medical and educational sectors. The transaction showcases both companies' commitment to ESG standards and community revitalization. Total management assets for KA Real Estate stand at $14 billion.
Jones Lang LaSalle (NYSE: JLL) will announce its first quarter 2022 results on May 9, 2022, at 7:30 a.m. Eastern time, followed by a live webcast at 9 a.m. Eastern time. Interested parties can register for the event through JLL’s Investor Relations website. The company reported annual revenue of $19.4 billion and operates in over 80 countries with a workforce of more than 98,000 as of December 31, 2021. A webcast replay will be available for 12 months post-event.
JLL has announced the record-setting sale of Flatiron Park, a life sciences and office campus in Boulder, Colorado, covering one million square feet. Sold to BioMed Realty, a Blackstone company, the transaction is noted as the largest single asset sale in Colorado history. The property is 90% leased to leading firms in technology and life sciences, featuring amenities like an on-site gym and restaurants. The campus's location near the University of Colorado Boulder provides access to a highly educated workforce, enhancing its appeal for future growth.
JLL (NYSE: JLL) has promoted Scott Einberger to Investor Relations Officer, effective April 1, 2022. He succeeds Chris Stent and will report to CFO Karen Brennan. Einberger brings extensive experience from his previous role at US Foods (NYSE: USFD) and joined JLL in September 2021. Brennan stated that Einberger is well-positioned to enhance the investor relations program. Einberger holds an MBA in Accounting and Finance and is a Certified Management Accountant (CMA). JLL operates globally with an annual revenue of $19.4 billion.
JLL has secured $543 million in financing for the $596.6 million 10 World Trade project in Boston's Seaport District. This mixed-use tower will provide 555,250 square feet of life sciences, office, and retail space. The financing includes a $382.5 million construction loan and approximately $160 million in joint venture equity. Construction began in Q1 2022, with completion expected by Q4 2024. Designed by Sasaki, the tower incorporates advanced technology and sustainability features to meet post-pandemic standards.
Clarion Partners and Marcus Partners have appointed JLL as the exclusive leasing agent for Merritt 7, a six-building, 1.4 million-square-foot Class-A corporate park in Norwalk, Connecticut. This property is undergoing a significant repositioning to enhance tenant amenities and services, targeting the needs of employees returning to work post-COVID. Merritt 7 boasts certifications such as LEED Gold and offers a range of amenities including cafes, fitness centers, and flexible event spaces. Current tenants include major companies like IBM and Xerox, with available lease options from 1,600 to 155,000 square feet.
JLL announced the promotion of Laura Adams to Chief Human Resources Officer (CHRO), effective July 1, succeeding Mary Bilbrey, who has led HR for six years. Adams, a member of JLL since 2005, brings extensive experience in aligning HR strategies with business goals. JLL's CEO, Christian Ulbrich, praised Bilbrey's contributions and highlighted Adams as a strong fit for the role. The company's executive board will also see Adams join its ranks, emphasizing the continuity and commitment to strategic HR transformation.
The RMR Group Inc. has announced the redevelopment of Unison Elliott Bay in Seattle, transforming three buildings into over 300,000 square feet of Class A office and life science lab space with wellness-focused amenities. Designed for flexibility, it features customizable floor plates and advanced lab infrastructure. Managed by RMR, the project targets completion in early 2023, catering to rising demand from tech and life science sectors. The location is near key parks and dining, enhancing its appeal to potential tenants.
JLL (NYSE: JLL) will have its Chief Financial Officer, Karen Brennan, at the Raymond James Annual Institutional Investors Conference on March 7, 2022, at 2:15 p.m. EST. A live audio webcast will be available on the company's Investor Relations website, with a replay accessible for 180 days post-event. JLL, a global leader in real estate and investment management, reported revenue of $19.4 billion and operates in over 80 countries.
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