Jones Lang Lasalle Inc Stock Price, News & Analysis

JLL Capital Markets has secured $393 million in construction financing for the redevelopment of 125 West End Ave. in Manhattan into a leading life sciences facility. The financing includes a four-year, floating-rate senior loan and a mezzanine loan, facilitated through partnerships with Apollo Global Management and Oaktree Capital Finance. The project involves converting a 399,309-square-foot office building into a state-of-the-art research complex. New York City ranks second in NIH funding, indicating strong demand for life sciences, yet it only holds 1.1% of office investment in this sector compared to other major cities.

JLL has released insights into the future of work in a post-pandemic world, emphasizing the need for companies to adapt to evolving employee preferences. Key findings show that a majority of workers value office spaces for collaboration and socialization, with 70% believing it enhances teamwork. The reports suggest a shift towards flexibility, with 66% of employees wanting diverse work locations and a focus on worker-centric environments. JLL asserts that companies must rethink their workspaces to align with these preferences, which can serve as a competitive advantage.

Ka Makana Ali'i in Kapolei, Hawaii, is positioning itself as a top dining destination with over 21,000 square feet of new restaurants. Notable additions include the newly opened Shangri La Restaurant & Bar, featuring Cantonese cuisine, and the first Olive Garden in West O'ahu, slated for summer 2021. Other openings include Taqueria el Ranchero and an expanded Kickin Kajun restaurant. The center also hosts over 27 restaurants, contributing to its growth in the community.

Manhattan Village in Manhattan Beach is set to unveil a new collection of dining and retail options as part of its $250 million redevelopment. Scheduled for completion in 2021, the center will feature retailers like Faherty and Urban Outfitters, and dining establishments such as BOA Steakhouse and Smashburger. The revamped village will encompass 648,000 square feet of indoor/outdoor space, providing a modern shopping and dining experience reflecting the local coastal lifestyle. JLL has managed this redevelopment, aiming to offer a mix of high-profile tenants and enhance community engagement.

On March 3, 2021, JLL (NYSE: JLL) announced a strategic partnership and minority investment in Roofstock, an innovative marketplace in the single-family rental (SFR) sector. This partnership allows JLL to enhance its services in the residential market, while Roofstock acquires Stessa, a leading asset management software for SFR investors, previously owned by JLL Technologies. The collaboration aims to provide comprehensive services for investors, facilitating seamless transactions and portfolio management in the growing SFR market, which is increasingly attracting institutional investors.

On February 22, 2021, Jones Lang LaSalle (NYSE: JLL) announced that Christian Ulbrich, CEO, and Karen Brennan, CFO, will present at the Raymond James Annual Institutional Investors Conference on March 1, 2021, at 7:30 a.m. Eastern time. A live audio webcast will be available on the company's Investor Relations page, with a replay accessible for 90 days post-event. JLL is a leading firm in real estate and investment management, generating $16.6 billion in revenue and operating worldwide.