Jones Lang LaSalle Incorporated (JLL - Analyst Report) declared that it was selected by Gemalto – a leading international digital security company – to act as adviser for its worldwide real estate operations. With over 10,000 employees, Gemalto has presence in 43 countries across the world. The new deal is an extension of Jones Lang’s ties with Gemalto, with which the former has been working for the past five years.
Notably, Jones Lang LaSalle France will manage the contract with Gemalto. As per the global contract, Jones Lang will provide consulting and transactional support services to Gemalto. These services will be provided across the company’s assets, which include Gemalto’s operating plants, offices and research centers.
The service will include leasing, lease renegotiations, site redevelopments and disposals. Notably, Jones Lang’s office in Warsaw, Poland will be delivering the lease administration management service.
We view this deal as a strategic fit for Jones Lang as this portrays the company’s strong relationship management with its clients. Also, the move will enhance Jones Lang’s top-line going forward.
Indeed, this real estate investment trust (REIT) has a broad range of real estate product and services as well as sound knowledge of domestic and international real estate markets, facilitating its operation as a single-source provider of real estate solutions.
With a worldwide portfolio of approximately 2.6 billion square feet, Jones Lang is an industry leader in property and corporate facility management services, while its investment management business is one of the largest and most diverse in the real estate sector with $46.3 billion of assets under management.
Jones Lang currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks include FirstService Corp. (FSRV - Snapshot Report), E-House (China) Holdings Ltd. (EJ - Snapshot Report) and Kennedy-Wilson Holdings, Inc. (KW - Snapshot Report). All these have a Zacks Rank #1 (Strong Buy).