Welcome to our dedicated page for Jones Lang Lasalle news (Ticker: JLL), a resource for investors and traders seeking the latest updates and insights on Jones Lang Lasalle stock.
News and updates for Jones Lang LaSalle Incorporated (JLL) focus on its role as a global commercial real estate and investment management company. As a Fortune 500 firm with operations in over 80 countries, JLL regularly issues announcements on financial performance, leadership changes, facility management mandates, technology research and capital markets activity.
Investors and observers can find earnings-related news, including quarterly results and conference call details, where JLL reports on revenue trends across segments such as Real Estate Management Services, Leasing Advisory, Capital Markets Services, Investment Management and Software and Technology Solutions. These releases often highlight developments in areas like workplace management, project management, capital markets revenues and investment management performance.
Company news also covers leadership appointments and organizational changes, for example within its Americas Leasing Advisory business or at LaSalle Investment Management. Such updates provide insight into how JLL organizes its global platform and succession planning in key business lines.
In addition, JLL issues announcements about significant client mandates and projects, such as facility operations for major airport terminals, as well as research findings on topics like AI adoption in commercial real estate and capital flows tracked by its Global Bid Intensity Index. These items illustrate how JLL combines advisory, management and research capabilities across the real estate sector.
This news page aggregates these types of releases so readers can follow JLL’s financial reporting, strategic initiatives, leadership developments, facility management wins, technology research and capital markets activities in one place.
On November 30, 2021, JLL announced the successful acquisition of Building Engines for approximately $300 million. This acquisition enhances JLL's commitment to integrating technology within the real estate sector, particularly in the management of property operations. Building Engines' platform, utilized by over 1,000 clients across 35,000 buildings, aims to streamline property management processes. With this integration, JLL anticipates improved alignment and a superior experience for real estate investors.
Tapestry, Inc. (NYSE: TPR) has announced the groundbreaking of its new North Las Vegas Fulfillment Center, expected to create over 400 jobs by 2029. The facility aims to enhance Tapestry's omni-channel capabilities and is projected to handle 22.2 million units annually across its brands, including Coach and Kate Spade. The NVFC will feature advanced technology and is designed for LEED Gold certification, reflecting Tapestry's commitment to sustainability. This strategic move is set to improve service delivery to West Coast customers and support company growth.
Commercial real estate firm JLL announces a significant expansion in Austin as Miro, a collaborative platform provider, leases 72,000 square feet at Colorado Tower. This move creates over 200 new job positions, marking Austin as Miro's largest U.S. hub and second largest globally. The company plans to grow its workforce from 165 to more than 200 by January 2022, reinforcing its rapid growth with 25 million users and 95% of Fortune 100 as clients. The new location offers modern amenities to enhance collaboration.
On November 8, 2021, JLL announced the successful sale of the Naples Beach Hotel & Golf Club, a 125-acre beachfront resort in Naples, Florida. JLL represented the seller, The Watkins Family, and the buyer is a partnership comprising The Athens Group and MSD Partners, L.P. The property will be redeveloped into the Naples Beach Club, featuring a Four Seasons managed hotel and luxury residences. Construction is scheduled to begin in 2022, with pre-sales for residential units already underway. This aligns with JLL's extensive experience in the hospitality sector, having completed over $83 billion in transactions.
Grady Health System marked a significant milestone with the "topping out" of the Correll Pavilion in Atlanta. Named after A.D. "Pete" Correll, the facility aims to enhance patient care and includes over 550,000 square feet of clinical space, increasing operating room capacity by 25% and clinic capacity by 45%. Funded by $96 million in private donations and matching bonds, the project is on track for completion by late Q3 2022. Over 500,000 work hours have been logged, with significant materials used, including 4000 tons of rebar.
On Nov. 4, 2021, JLL announced a $800 million joint venture with Arden Group and Arcapita Group focused on multi-tenant warehousing in major U.S. markets. The venture's initial acquisition includes an 18-property, 5-million-square-foot portfolio for $550 million across cities like Atlanta and Dallas. An additional $250 million investment will expand the portfolio to 32 properties totaling over 7 million square feet. The joint venture aims to increase asset value to $2 billion, targeting infill warehouses amidst growing logistics demand and rent growth.
Jones Lang LaSalle (NYSE: JLL) reported a robust Q3 2021 performance, achieving consolidated revenue of $4.9 billion, a 22% increase year-over-year, and fee revenue soaring 45% to $2.1 billion. The growth was led by Capital Markets and Leasing, with respective increases of 103% and 73%. Net income attributable to shareholders reached $237.2 million, representing an 80% rise.
The company also repurchased $150 million in shares, demonstrating its commitment to returning capital to shareholders.
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.
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