Jones Lang Lasalle Inc Stock Price, News & Analysis

On September 28, 2021, JLL provided insights into the U.S. office market, highlighting delays in corporate re-entry due to the Delta variant. Despite uncertainty, JLL anticipates a recovery, emphasizing the office's role in enhancing culture and collaboration. Their proprietary 'comeback index' indicates a slight decline in office activity but suggests a rebound is likely in early 2022. A recent survey showed over 57% of working parents feel burned out, indicating a desire for office interaction. JLL advocates hybrid work models while emphasizing health and well-being as top priorities in future office designs.

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.