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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.
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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On February 22, 2022, JLL announced Nashunda Williams as the new Head of Diversity, Equity, and Inclusion (DEI). Reporting to CEO Christian Ulbrich, Williams will focus on executing the company's DEI strategy over the next 24 months. With six years at JLL, her previous roles include technology advisor and IT business partner. Williams aims to enhance the DEI culture within JLL, continuing the work of Ingrid Jacobs, the prior head of DEI. JLL, a Fortune 500 company, reported $16.6 billion in revenue in 2020, with operations in over 80 countries.
The Preiss Company has begun developing Signature Music Row, a 105-unit multifamily housing project in Nashville, Tennessee, marking its first entry into the Nashville market. This project is in partnership with Speedwagon Capital Partners and includes additional loan contributions from First Horizon, with JLL Capital Markets facilitating the debt arrangements. The development features various residential units and is strategically located near Vanderbilt University, amidst a thriving local economy bolstered by job growth from major companies like Amazon and Oracle.
On February 14, 2022, JLL announced securing a $260 million loan for the East Market project in Philadelphia, a mixed-use development consisting of residential, retail, office, and parking facilities. The funding was arranged through Pacific Life Insurance Company and represents a partnership involving National Real Estate Advisors, JOSS Realty Partners, SSH, and Young Capital. Once completed, the project is expected to generate over $1 billion in new investments and will feature more than one million square feet of development, reshaping the Market East neighborhood.