:JLL (company)

After LaSalle Partners' initial public offering (IPO) in 1997,{{Cite web |url=https://www.bizjournals.com/columbus/stories/1997/04/21/daily14.html |title=LaSalle files for IPO |date=April 24, 1997 |publisher=American City Business Journals}} which was led by its first CEO, Stuart Scott, it merged with Jones Lang Wootton in 1999, to form Jones Lang LaSalle (JLL) as part of a $435 million deal.{{cite news |title=Company News; LaSalle To Buy Jones Lang Wootton For $450 Million |work=The New York Times |url=https://www.nytimes.com/1998/10/23/business/company-news-lasalle-to-buy-jones-lang-wootton-for-450-million.html |agency=Reuters |date=23 October 1998 |access-date=March 8, 2019}}{{cite news |title=What's in a name? For Jones Lang LaSalle, a lot less |last1=Ho |first1=Catherine |url=https://www.washingtonpost.com/business/capitalbusiness/2014/03/14/1d169c6e-a3de-11e3-84d4-e59b1709222c_story.html |newspaper=Washington Post |date=17 March 2014 |access-date=March 11, 2019 |archive-url=https://web.archive.org/web/20170324223813/https://www.washingtonpost.com/web/20170324223813/https://www.washingtonpost.com/business/capitalbusiness/2014/03/14/1d169c6e-a3de-11e3-84d4-e59b1709222c_story.html?utm_term=.7a18e40ad4ee |archive-date=March 24, 2017 |url-status=dead}} Jones Lang Wootton was a London auctioneer that originated in the 1700s. By 1976, Jones Lang Wootton had expanded into the United States real estate market in New York City.{{cite news |title=A Wall St. Realtor Lures Foreign Cash |last1=Scardino |first1=Albert |url=https://www.nytimes.com/1987/03/30/business/a-wall-st-realtor-lures-foreign-cash.html |work=The New York Times |date=30 March 1987 |access-date=March 8, 2019}} The company had 4,000 employees in 33 countries around the time of the merger with LaSalle Partners.{{cite news |title=Company News; LaSalle and Jones Lang Wootton in Merger Talks |url=https://www.nytimes.com/1998/06/18/business/company-news-lasalle-and-jones-lang-wootton-in-merger-talks.html |work=Bloomberg News |date=18 June 1998 |access-date=March 8, 2019}}

William Sanders founded the real estate company International Development Corp in 1966 in El Paso, Texas.{{cite news |title=Beto O'Rourke Once Supported an El Paso Real Estate Deal. Barrio Residents Remember |last1=Saul |first1=Stephanie |url=https://www.nytimes.com/2018/10/29/us/politics/beto-orourke-el-paso-texas-senate.html

|work=The New York Times |date=29 October 2018 |access-date=February 8, 2019}}{{cite news |title=Is Beto O'Rourke's Wife Really A 'Billionaire' Heiress? Not Likely. |last1=Helman |first1=Christopher |last2=Debter |first2=Lauren |url=https://www.forbes.com/sites/christopherhelman/2018/11/04/is-beto-orourkes-wife-really-a-billionaire-heiress-not-likely/#3438da69387f |work=Forbes |access-date=February 11, 2019}}

Sanders renamed the company LaSalle Partners in 1968 and relocated to Chicago, Illinois. The company first offered investment banking, investment management, and land services. By 1997, LaSalle had grown into three business divisions, Management Services, Corporate and Financial Services, and Investment Management, with ten U.S. corporate offices and seven international offices.

JLL purchased The Staubach Company in 2008. Roger Staubach served as executive chairman of JLL from 2008 until he retired in 2018. JLL merged with UK-based King Sturge in a £197 million deal in 2011.{{cite news |title=Jones Lang LaSalle merges with King Sturge to become UK's biggest property agent |last1=Ruddick |first1=Graham |url=https://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/8541632/Jones-Lang-LaSalle-merges-with-King-Sturge-to-become-UKs-biggest-property-agent.html |archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/8541632/Jones-Lang-LaSalle-merges-with-King-Sturge-to-become-UKs-biggest-property-agent.html |archive-date=January 12, 2022 |url-access=subscription |url-status=live |work=The Telegraph |date=27 May 2011 |access-date=February 11, 2019}}{{cbignore}} The combined business, with 2,700 employees and 43 offices, created the largest property agent in the UK, as reported by The Telegraph in 2011. The company acquired Irish-based Guardian Property Asset Management in 2015.{{cite news |title=JLL moving into residential property with Guardian acquisition

|url=https://www.irishtimes.com/life-and-style/homes-and-property/jll-moving-into-residential-property-with-guardian-acquisition-1.2425398 |newspaper=The Irish Times |date=12 November 2015 |access-date=February 11, 2019}} LaSalle Investment Management, a subsidiary of JLL, managed $58 billion in real estate investments for institutional and retail clients, as of 2016. JLL had acquired 80 companies and established 100 offices worldwide by 2016.

The company expanded from commercial real estate services to include property technology, or "proptech", with the 2017 launch of its JLL Spark division.{{cite news |title=JLL Spark makes first acquisition as industry gets serious about technology |last1=Chen |first1=Jackson |url=https://rew-online.com/52826/ |date=4 April 2018 |access-date=February 8, 2019}} In June 2018, JLL Spark created a $100 million venture fund to invest in real estate start-ups, such as a technology to link office users with co-working spaces.{{cite news |title=JLL Spark leads $5.2M funding round for British office booking platform |last1=Nitkin |first1=Alex |url=https://www.cretech.com/news/jll-spark-leads-5-2m-funding-round-for-british-office-booking-platform/ |work=Cretech |date=30 January 2019 |access-date=August 1, 2019}}

JLL announced the acquisition of HFF in a deal worth $2 billion in March 2019.{{cite news |title=JLL to buy brokerage HFF in $2 billion deal |last1=Ecker |first1=Danny |url=https://www.chicagobusiness.com/commercial-real-estate/jll-buy-brokerage-hff-2-billion-deal |work=Crain's Chicago Business |date=19 March 2019 |access-date=April 26, 2019}} The acquisition was completed in July 2019 and worth $1.8 billion.{{cite news |title=JLL closes $1.8B acquisition of rival HFF |last1=Carlock |first1=Catherine |url=https://www.bizjournals.com/boston/news/2019/07/02/jll-closes-1-8b-acquisition-of-rival-hff.html |work=Boston Business Journal |date=2 July 2019 |access-date=July 11, 2019 }}

In 2021, the company's technology division sold Stessa, the single-family rental asset management software company it acquired in 2018, to Roofstock as part of a deal in which JLL acquired a minority stake in Roofstock and it would provide services to JLL's clients.{{cite news |last=Dezember |first=Ryan |title=Commercial Property Giant Moves Into Rental Houses |url=https://www.wsj.com/articles/commercial-property-giant-moves-into-rental-houses-11614771000 |work=Wall Street Journal |date=3 March 2021 |accessdate=March 8, 2021}}{{cite news |last=Nicoll|first=Alex|title=Roofstock plans hiring spree even as it scales back its own real estate needs |url= https://www.businessinsider.com/roofstock-jll-technologies-stessa-single-family-rental-homes-real-estate-2021-3 |work=Business Insider |date=18 March 2021 |accessdate=March 18, 2021}}

JLL manages the London offices of the social media company Facebook. In July 2021, JLL sought the removal of a cleaner from the offices when, in his capacity as a trade union representative, he organised a protest against a doubling of the cleaners' workloads.{{Cite web|date=2021-09-12|title=Facebook office cleaner who led protests at London site fears for his job|url=https://www.theguardian.com/technology/2021/sep/12/facebook-office-cleaner-who-led-protests-at-london-site-fears-for-his-job|access-date=2021-09-12|website=the Guardian|language=en}}

In August 2021, JLL announced the acquisition of Skyline Al which is an AI platform that provides a comprehensive analysis of commercial real estate properties.{{Cite news|last=Castellanos|first=Sara|date=2021-08-11|title=JLL Moves to Acquire Artificial Intelligence Startup Skyline AI|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/jll-moves-to-acquire-artificial-intelligence-startup-skyline-ai-11628685900|access-date=2021-08-12|issn=0099-9660}}

In late 2021 and early 2022, JLL made two "proptech" acquisitions. In November 2021, it purchased the property management software company Building Engines,{{cite news |last=Chesto|first=Jon|title=Real estate giant JLL is buying Boston property software firm Building Engines for $300M |url=https://www.bostonglobe.com/2021/10/22/business/real-estate-giant-jll-is-buying-boston-property-software-firm-building-engines-300m/ |url-access=subscription |work=Boston Globe |date=22 October 2021 |accessdate=February 7, 2022}} and in February 2022 it acquired Hank, a company developing AI-based technology to improve the energy efficiency of buildings.{{cite news |last=Man|first=Pui-Guan|title=JLL buys US proptech platform in sustainability drive|url= |work=Estates Gazette |date=6 January 2022|quote=JLL has acquired an AI-powered start-up based in Sacramento, in response to growing client demand for more sustainable buildings.Virtual engineering platform Hank, which was sold for an undisclosed sum, applies machine learning and AI to solve challenges such as HVAC programming inconsistencies and energy and equipment inefficiencies. The deal comes after JLL bought building operations platform Building Engines for $300m (£221m) in November.}}

In June 2023, JLL launched Carbon Pathfinder, a software tool it had developed for companies to identify the carbon emissions from their buildings and ways to reduce those emissions.{{Cite web |date=2023-07-18 |title=The tech to sustain – JLL and Carbon Pathfinder |url=https://diginomica.com/tech-sustain-jll-and-carbon-pathfinder |first1=Brian |last1=Sommer |access-date=2023-10-30 |website=diginomica |language=en}}

The company developed a large language model (LLM) tool called JLL GPT for its employees, and launched it in August 2023. It was the first such model to be launched by a major real estate services company.{{Cite web |last=Bennett-Ness |first=Jamie |date=2023-08-03 |url-access=subscription |title=JLL launches commercial real estate's first AI-driven GPT model |url=https://www.propertyweek.com/news/jll-launches-commercial-real-estates-first-ai-driven-gpt-model/5126225.article |access-date=2023-10-30 |website=Property Week |language=en |url-status=live |archive-url= https://web.archive.org/web/20230804094635/https://www.propertyweek.com/news/jll-launches-commercial-real-estates-first-ai-driven-gpt-model/5126225.article |archive-date= Aug 4, 2023 }} The generative AI model is being trained on JLL's data as of 2023 and was developed to be able to answer questions about commercial real estate.{{Cite web |title=JLL launches in-house generative AI model geared toward commercial real estate |url=https://www.bizjournals.com/sanfrancisco/inno/stories/news/2023/08/02/jll-ai-model.html |url-access=subscription |date=August 2, 2023 |first1=William |last1=Hicks |access-date=2023-10-30 |website=Bay Area Inno |url-status=live |archive-url=https://archive.today/20240303203752/https://www.bizjournals.com/sanfrancisco/inno/stories/news/2023/08/02/jll-ai-model.html |archive-date= 3 Mar 2024 }}

In 2024, the company announced a partnership with IBM, using IBM's technology to develop a platform that tracks sustainability data for JLL's clients' commercial properties.{{cite news |title=What Do Many Better-Managed Companies Have? Lots of Climate-Related Jobs |last1=Wartzman and Kelly Tang |first1=Rick |last2=Tang |first2=Kelly |url=https://www.wsj.com/business/c-suite/climate-change-jobs-company-management-d2f37311?st=d3pw5oz25yxc2sb&reflink=mobilewebshare_permalink |work=Wall Street Journal |date=July 28, 2024|accessdate=October 18, 2024}} According to the company, the platform is intended to collect data and provide reporting on JLL's clients' environmental sustainability goals, including decarbonization.{{cite news |title=JLL integrates IBM software into sustainability program management |last1=Amarnath |first1=Nish |url=https://www.facilitiesdive.com/news/jll-integrates-ibm-software-sustainability-program-facilities-management/721486/|work=Facilities Dive |date=July 16, 2024|accessdate=October 18, 2024}}

In 2024, JLL also acquired two technology companies to expand its services. The firm acquired data center services company SKAE Power Solutions in May 2024,{{Cite web |title=JLL To Acquire Data Center Service Provider Skae |url=https://www.bisnow.com/national/news/investment/jll-to-acquire-data-service-provider-skae-124289 |access-date=2024-12-08 |website=Bisnow |language=en}} forming a technical services division called SKAE, a JLL company.{{Cite web |last=Burns |first=Joe |date=2024-05-16 |title=JLL to acquire data center design, engineering services firm SKAE |url=https://www.facilitiesdive.com/news/jll-acquires-skae-power-solutions-data-center-demand-forms-technical-services-division/716344/ |access-date=2024-12-08 |website=Facilities Dive |language=en-US}} They also acquired Raise Commercial Real Estate, a firm that had developed a technology platform for companies to manage their real estate holdings.{{Cite web |date=2024-10-06 |title=Inside JLL's stunning purchase of Raise Commercial Real Estate |url=https://sfstandard.com/2024/10/06/inside-jlls-acquisition-of-raise-commercial/ |access-date=2024-12-08 |website=The San Francisco Standard |language=en}}

JLL is headquartered in Chicago, Illinois, and as of October 2018 was the second-largest, by total transactions, public brokerage firm in the world ($162.12 billion).{{cite news |title=The gameplan for Roger Staubach? Teaming up with Cowboys pal Robert Shaw and family clock management |last1=Hall |first1=Cheryl |url=https://www.dallasnews.com/business/real-estate/2018/10/14/roger-staubach-play-make-buddy-robert-shaw |work=Dallas Morning News |date=14 October 2018 |access-date=February 11, 2019}}{{cite news |title=Top 10 Brokerage Firms |last1=Bodamer |first1=David |url=https://www.nreionline.com/node/35148/gallery?slide=1 |work=National Real Estate Investor |date=1 April 2014 |access-date=February 8, 2019}} The company has more than 112,000 employees in 80 countries, {{as of |2024 |12 |lc=y}}.{{r|10K|page=3}}

Services include investment management, asset management, sales and leasing, property management, project management, development, and property technology.{{Cite web |last=Torres |first=Destiny |date=2022-10-31 |title=Proptech Is Shaking Up the Real Estate Industry |url=https://labusinessjournal.com/real-estate/proptech-is-shaking-up-the-real-estate-industry/ |access-date=2023-05-01 |website=Los Angeles Business Journal |language=en-US}}{{cite news |title=The Case for Buying Jones Lang LaSalle |last1=Englander |first1=David |url=https://www.barrons.com/articles/the-case-for-buying-jones-lang-lasalle-1464409107 |work=Barron's |date=28 May 2016 |access-date=February 8, 2019}} In 2014, the organization shortened its name to JLL for marketing purposes, while the legal name remained Jones Lang LaSalle Incorporated.{{cite news |title=Jones Lang LaSalle becomes JLL |last1=Montgomery |first1=Angus |url=https://www.designweek.co.uk/issues/march-2014/jones-lang-lasalle-becomes-jll/ |date=5 March 2014 |access-date=February 11, 2019}}{{cite news |title=Jones Lang LaSalle Incorporated (JLL) Is In Buy Territory (Again) |last1=Mason |first1=Amelie |url=https://postanalyst.com/2019/05/08/jones-lang-lasalle-incorporated-jll-is-in-buy-territory-again/ |work=Post Analyst |date=May 8, 2019 |access-date=May 22, 2019 |archive-date=April 10, 2022 |archive-url=https://web.archive.org/web/20220410024502/https://postanalyst.com/2019/05/08/jones-lang-lasalle-incorporated-jll-is-in-buy-territory-again/ |url-status=dead }}

Former company president Christian Ulbrich succeeded Colin Dyer as CEO in October 2016.{{cite news |title=Movers & Shakers: NBCUniversal names new chief real estate officer, JLL's new CEO … & more |last1=Chen |first1=Cathaleen |url=https://therealdeal.com/la/2016/09/08/movers-shakers-nbcuniversal-names-new-chief-real-estate-officer-jlls-new-ceo-more/ |work=The Real Deal |date=8 September 2016 |access-date=February 8, 2019}} Karen Brennan was named CFO on June 22, 2020 effective July 15, 2020.{{cite web|date=2020-08-10|title=JLL misses Q2 estimates, appoints new CFO|url=https://www.bizjournals.com/sanfrancisco/news/2020/08/10/jll-misses-q2-targets-appoints-new-cfo.html|access-date=2020-08-13|website=San Francisco Business Times}}{{cite web|date=2020-06-23|title=Global real estate firm JLL names Karen Brennan chief financial officer|url=https://www.bizjournals.com/bizwomen/news/latest-news/2020/06/global-real-estate-firm-jll-names-karen-brennan-ch.html?page=all|access-date=2020-08-13|website=BizWomen}} Sheila Penrose served as board chairwoman starting in 2005,{{cite news |title=Davos 2019: 'I'm the boss, he's the spouse' |last1=Hope |first1=Katie |url=https://www.bbc.com/news/business-46945135 |work=BBC News |date=22 January 2019 |access-date=February 13, 2019}}{{cite news |title=Changing the face of commercial real estate |last1=Squires |first1=Paula |url=http://www.virginiabusiness.com/news/article/changing-the-face-of-commercial-real-estate |work=Virginia Business |date=29 October 2016 |access-date=February 13, 2019}} and was replaced by Siddharth ("Bobby") Mehta in 2020.{{cite web|url=https://www.egi.co.uk/news/change-at-the-top-as-jll-names-new-chairman/ |title=Change at the top as JLL names new chairman |publisher=www.egi.co.uk |date=February 6, 2020 |accessdate=2021-02-26}}

In 2022, JLL founded the JLL Foundation, a non-profit organization focused on climate change and sustainability. The foundation provides zero-interest loans to startup companies that provide or are developing sustainable products or technologies, for example recycling plastic waste into construction products.{{Cite web |last1=June 26 |first1=Erik Sherman {{!}} |last2=AM |first2=2023 at 07:33 |title=JLL Foundation Supports 15 Climate-Focused Startups in Its First Year |url=https://www.globest.com/2023/06/26/jll-foundation-supports-15-climate-focused-startups-in-its-first-year/ |access-date=2023-10-30 |website=GlobeSt |language=en}}

{{reflist}}

• {{Official website|https://www.jll.com/}}

{{Finance links

| name = Jones Lang LaSalle Incorporated

| symbol = JLL

| sec_cik = 1037976

| yahoo = JLL

| google = JLL:NYSE

}}

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Category:Companies listed on the New York Stock Exchange

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