JLL (company)

After LaSalle Partners' IPO in 1997, in 1999, it merged with Jones Lang Wootton to form Jones Lang LaSalle (JLL) as part of a $435 million deal.[7] [8][9] Jones Lang Wootton was a London auctioneer that originated in the 1700s.[8] By 1976, Jones Lang Wootton expanded into the United States real estate market in New York City.[10] The company had 4,000 employees in 33 countries around the time of the merger with LaSalle Partners.[11]

William Sanders founded the real estate company International Development Corp in 1966 in El Paso, Texas.[12][13] Sanders renamed the company LaSalle Partners in 1968 and relocated to Chicago, Illinois.[12] The company first offered investment banking, investment management, and land services.[14] By 1997, LaSalle had grown into three business divisions, Management Services, Corporate and Financial Services, and Investment Management, with ten U.S. corporate offices and seven international offices.[14] LaSalle Partners made an initial public offering in 1996.[14]

JLL purchased The Staubach Company in 2008.[15] Roger Staubach served as executive chairman of JLL from 2008 until he retired in 2018.[16] JLL merged with UK-based King Sturge in a £197 million deal in 2011.[17] The combined business, with 2,700 employees and 43 offices, created the largest property agent in the UK, as reported by The Telegraph in 2011.[17] The company acquired Irish-based Guardian Property Asset Management in 2015.[18] LaSalle Investment Management, a subsidiary of JLL, managed $58 billion in real estate investments for institutional and retail clients, as of 2016.[8] JLL had acquired 80 companies and established 100 offices worldwide by 2016.[15]

The company expanded from commercial real estate services to include property technology, or "proptech", with the 2017 launch of its JLL Spark division.[19] In June 2018, JLL Spark created a $100 million venture fund to invest in real estate start-ups, such as a technology to link office users with co-working spaces.[20]

JLL announced the acquisition of HFF in a deal worth $2 billion in March 2019.[21] The acquisition was completed in July 2019 and worth $1.8 billion.[22]

In 2021, the company's technology division sold Stessa, the single-family rental asset management software company it acquired in 2018, to Roofstock as part of a deal in which JLL acquired a minority stake in Roofstock and it would provide services to JLL's clients.[23][24]

JLL manages the London offices of the social media company Facebook. In July 2021, JLL sought the removal of a cleaner from the offices when, in his capacity as a trade union representative, he organised a protest against a doubling of the cleaners’ workloads.[25]

In August 2021, JLL announced the acquisition of Skyline Al which is an AI platform that provides a comprehensive analysis of commercial real estate properties.[26]

In late 2021 and early 2022, JLL made two "proptech" acquisitions.[27] In November 2021, it purchased the property management software company Building Engines,[28] and in February 2022 it acquired Hank, a company developing AI-based technology to improve the energy efficiency of buildings.[27]

JLL is headquartered in Chicago, Illinois, and as of October 2018 was the second-largest public brokerage firm in the world by total transactions ($162.12 billion).[16][14] The company has more than 103,000 employees in 80 countries, as of December 2022.[29][3]

Services include investment management, asset management, sales and leasing, property management, project management, development, and property technology.[30][8] In 2014, the organization shortened its name to JLL for marketing purposes, while the legal name remained Jones Lang LaSalle Incorporated.[31][32]

Former company president Christian Ulbrich succeeded Colin Dyer as CEO in October 2016.[15] Karen Brennan was named CFO on June 22, 2020 effective July 15, 2020.[33][34] Sheila Penrose served as board chairwoman starting in 2005,[35][36] and was replaced by Siddharth ("Bobby") Mehta in 2020.[37]

• Official website
• Business data for Jones Lang LaSalle Inc:
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  • SEC filings
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