Jones Lang LaSalle Incorporated (JLL - Free Report) , which shortened its name to “JLL” earlier in March, disclosed that it has been selected by Scania – a Swedish automotive industry manufacturer – as a preferred provider of global commercial real estate consultancy and advisory services.
A global framework agreement has already been signed by Scania and JLL in this context. Notably, Scania has a worldwide presence with its sales and service organization in over 100 countries.
As per the deal’s scope, JLL services will include project & development services (construction, refurbishment, planning), transactions (land and property purchases/disposals, leasing, sale & leaseback transactions) as well valuation services. Other services like facilities management, workplace strategy, lease administration and site location analysis at Scania’s request can also be offered by JLL.
As a matter of fact, JLL has a broad range of real estate product and services. Alongside, it possesses extensive knowledge of domestic and international real estate markets, enabling it to operate as a single-source provider of real estate solutions.
Therefore, for Scania, which has several real estate projects worldwide, the appointment of JLL is a strategic fit. On the other hand, the move will enhance JLL’s top line going forward.
In 2013, JLL generated record fee revenue of $4 billion across its segments, reflecting a 12% year-over-year increase in local currency. In the fourth quarter, the company was selected by Gemalto to act as adviser for its worldwide real estate operations.
JLL currently has a Zacks Rank #2 (Buy). Investors interested in the real estate operations industry may also consider stocks like E-House (China) Holdings Limited , HFF, Inc. (HF - Free Report) and FirstService Corp. . While E-House and HFF have a Zacks Rank #1 (Strong Buy), FirstService carries a Zacks Rank #2.