Jones Lang Lasalle Inc Stock Price, News & Analysis

JLL announced the successful sale of a nine-property office portfolio in San Diego for $315.4 million, totaling 371,281 square feet. The buyer, Longfellow Real Estate Partners, plans to transform the properties into a state-of-the-art life sciences campus. The buildings are situated on 20.56 acres in the Sorrento Mesa submarket, surrounded by major life sciences institutions. The JLL Capital Markets team, led by Managing Directors Lynn LaChapelle and Bob Prendergast, facilitated the sale, highlighting the strong investor interest in life sciences opportunities.

On October 25, 2021, JLL's Hotels & Hospitality Group announced a $450 million refinancing for the Hyatt Regency Waikiki Beach Resort & Spa in Honolulu, Hawaii. The loan, secured for five years with a floating rate from Deutsche Bank and Goldman Sachs, highlights the strong recovery in hotel demand post-pandemic. The resort, with 1,230 keys and multiple amenities, is strategically located near key attractions. This refinancing indicates robust lender interest, further supported by JLL's track record of over $83 billion in transactions in the hospitality sector over the past five years.

JLL (NYSE: JLL) has announced its agreement to acquire Building Engines, a premier building operations platform, for approximately $300 million. This acquisition aims to enhance JLL's technology capabilities and streamline building management processes across over 3 billion square feet of commercial real estate. The transaction is expected to close in Q4 2021, pending regulatory approvals. Building Engines will continue to serve existing clients and expand its platform through integration with JLL's technology products.

Jones Lang LaSalle Incorporated (NYSE: JLL) has announced the release date for its third quarter 2021 results, set for November 3, 2021, at 7:30 a.m. EST. A live webcast and teleconference will follow at 9:00 a.m. EST. Investors can register for the call via the company's Investor Relations website. JLL, a professional services firm specializing in real estate and investment management, reported annual revenue of $16.6 billion in 2020 and operates in over 80 countries with more than 92,000 employees.

JLL (NYSE: JLL) has appointed Joe Silva as Chief Information Security Officer to enhance its information security strategy. Silva will collaborate with global technology teams, overseeing threat management and security policies. His experience includes cybersecurity leadership at TransUnion and Symantec, aligning with JLL's mission to leverage technology in commercial real estate. JLL, with 2020 revenue of $16.6 billion and operations in over 80 countries, seeks to reshape the future of real estate through technology-driven solutions.

Moderna, Inc. (NASDAQ: MRNA) has announced plans to invest in a new 462,000 sq. ft. science center in Cambridge, Massachusetts, aiming for LEED Zero certification. This facility will support its mRNA therapeutics and vaccines, focusing on sustainability and collaboration. Construction has begun, with phased move-in expected in 2023. Alexandria Real Estate Equities (NYSE: ARE) is the development partner, while Jones Lang LaSalle (NYSE: JLL) facilitated the site selection. Moderna's pipeline includes 37 programs, 22 of which are in clinical studies.

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.