The local office of Chicago-based Jones Lang LaSalle Inc. was forged from one of the largest commercial brokerage acquisitions of the past decade.
Jones Lang, which provides brokerage, property management and other real estate services to corporate clients, is a little more than two years past the acquisition of Dallas-based Staubach Co., which was the country’s largest brokerage that exclusively represented tenants in leases.
That $613 million deal—coming as the commercial real estate market was in the midst of a steep downturn—made the combined company one of the larger brokerages, representing landlords and tenants alike.
But it took a little time to get both companies on the same page, officials said.
For starters, it took about a year before the Orange County operations of the combined company moved from Newport Beach into a single office, at Irvine’s Jamboree Center office complex.
“It took about six months to a year getting to know everyone,” said Jeff Ingham, an executive vice president who heads up Jones Lang’s local brokerage operations.
What helped was that “both sides had an open spirit of collaboration,” Ingham said.
“That’s not always true for real estate companies,” he said.
Shared Values
Both companies emphasize open communication, respect for employees and clients, room for professional growth and solid employee benefits, according to officials.
All that helped Jones Lang LaSalle rank No. 4 in the large company category on the Business Journal’s second annual Best Places to Work list.
The list was compiled for the Business Journal by Harrisburg, Pa.-based Best Companies Group, an independent workplace researcher that managed the registration process, conducted surveys, evaluated data and selected companies for the list based on overall scores from queries of management and employees.
Jones Lang is big, with more than 11,000 employees across the country. It has about 700 employees in Southern California spread among six regional offices.
In OC, the company has been able to retain more of a small business feel. Jones Lang counts fewer than 20 local brokers and about 100 OC employees in all.
The combined company’s local operations are down by roughly 30% after the 2008 Staubach acquisition.
Team Building
With a smaller local office, it’s been easy to do team building, both in the form of more formal meetings as well as social events, officials said. Local outings have included bowling at Lucky Strike Lanes, a day at Catalina Island and go-cart racing.
“We try to make it as fun as possible,” Ingham said.
The company aims for its employees to have “a good work-life balance,” Ingham said.
That’s done with generous vacation time, a formal telecommuting policy, an in-house training and development program and reimbursement for training programs.
If the company gives off a family vibe, that comes in part from actual family members working at the office. The local office includes one married couple—Executive Vice Presidents Wade and Ronda Clark—who both represent tenants and came from Staubach.
Another senior vice president, Tom Murphy, could be the only OC resident in Cleveland’s Sports Hall of Fame. Murphy used to pitch for the California Angels and had an 11-year career in the big leagues.
Jones Lang was the county’s 11th largest brokerage on the Business Journal’s April list, handling about $400 million worth of sales and leases last year.
The brokerage is looking to double its size in the next five years or so, according to Ingham.
A large national presence manifests itself in other ways.
Jones Lang’s latest annual report on corporate social responsibility runs 96 pages and covers everything from how the company’s working to reduce its global carbon footprint to how diversity and inclusion efforts are being used to make it the “employer of choice in the real estate industry.”
The local office has grabbed its share of large tenant and landlord work here.
Among larger local properties, the company’s currently acting as a receiver for Costa Mesa’s Pacific Arts Plaza, overseeing leasing and property management duties for the financially troubled, eight-building complex, which is expected to be sold soon.
