Jones Lang Lasalle Inc Stock Price, News & Analysis

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.

Jones Lang LaSalle announced the appointment of Efrain Rivera as an independent Board member effective Oct. 1, 2021. Rivera is the CFO of Paychex and has over 20 years of experience at Bausch & Lomb. His extensive financial expertise is expected to benefit JLL's growth. JLL, a Fortune 500 firm with $16.6 billion in 2020 revenue, operates in over 80 countries. Rivera joins a seasoned board that aims to leverage his global finance and operations experience to enhance JLL's operational platforms.