Jones Lang LaSalle Sets Record With $104M Profit

CHICAGO-Led by its high-margin LaSalle Investment Management business, Jones Lang LaSalle set a record with a $104-million profit in 2005, up 62% from the previous year. The profit comes on revenues of nearly $1.4 billion, up 19%, as the company saw increased business in all of its business operations.

The company’s Asia Pacific saw a 60% jump in revenue. In addition to setting records by raising $3 billion in 2005 and investing $6 billion, LaSalle Investment Management increased its revenues 35% to $203 million for the year, including $72 million in the fourth quarter. LaSalle Investment Management now oversees assets worth $30 billion. That number is guaranteed to grow, as California Public Employees’ Retirement System and LaSalle Investment Management have agreed to buy Oak Brook-based REIT CenterPoint Properties Trust, the largest industrial property owner in the Chicago market, in a $3.4-billion deal. CenterPoint Properties Trust immediately adds a 33-million-sf industrial portfolio, 5.5 million sf under development as well as the potential to build another 44 million sf on its land bank.