Business Facilities - December 2008 - (Page 44) FEATURE STORY By Brian Donahue OCCUPYING A NEW SPACE IN A CHANGING REAL ESTATE INDUSTRY The inside story of the $613 million merger of Jones Lang LaSalle and Staubach A s the 33,700 employees of Jones Lang LaSalle and the Staubach Co. began to integrate this summer and work as one team, they emerged as a new global powerhouse of real estate services. Their merge this summer, according to leadership from both sides, is not about being the biggest, but about being the best, about combining strengths and offering more real estate solutions. It’s a marriage that has long seemed destined to happen, even if talks between the firms only began in earnest early this year. The real estate giants have competed for years not just for business, but for employees. Jones Lang LaSalle, a multifaceted, global real estate service based in Chicago, and Staubach, a nationally entrenched, tenantfocused Dallas firm, crossed paths plenty over the years. “We knew a lot of the same people, we tried to recruit a lot of each other’s people, and the reasons we DECEMBER 2008 Roger Staubach and Colin Dyer would try to do a lot of that is because we found the people to be culturally similar and very high quality professionals,” says Greg O’Brien, former Staubach CEO and now CEO of Jones Lang LaSalle’s new America’s Brokerage. “[There was] not a lot of success in either camp at getting people to leave, because we had great cultures and people were very happy with what they were doing. But we had a whole lot of respect for the other side.” THE STRATEGY EMERGES For Staubach, the strategy that ultimately led to merger talks with Jones Lang LaSalle came about a few years ago after a period of competition and self-analysis. O’Brien recalls that the firm, founded in 1977 by NFL Hall of Famer Roger Staubach, was already a leader in tenant representation in many major U.S. markets, with revenues at about $350 million at the time. But it foresaw itself lacking in certain areas in the 44 PHOTO CREDIT: JONE LANG LASALLE????; ISTOCK
Table of Contents Feed for the Digital Edition of Business Facilities - December 2008 Business Facilities - December 2008 Contents First Word Snapshots Corporate Moves: North Carolina Gold Award: New Engine for Growth in Virginia Silver Award: Tennessee Gets the Big Prize Bronze Award: Enrichment in Idaho Falls Honorable Mentions International Reach From America's Heartland Supply Chain Priorities Metro Spotlight: Greenville/ Spartanburg, SC The Magnolia State Has It All A Real Estate Mega-Merger State of the Year Ask the Expert Advertiser Index Business Facilities - December 2008 Business Facilities - December 2008 - Business Facilities - December 2008 (Page Cover1) Business Facilities - December 2008 - Business Facilities - December 2008 (Page Cover2) Business Facilities - December 2008 - Business Facilities - December 2008 (Page 1) Business Facilities - December 2008 - Contents (Page 2) Business Facilities - December 2008 - Contents (Page 3) Business Facilities - December 2008 - Contents (Page 4) Business Facilities - December 2008 - Contents (Page 5) Business Facilities - December 2008 - First Word (Page 6) Business Facilities - December 2008 - Snapshots (Page 7) Business Facilities - December 2008 - Corporate Moves: North Carolina (Page 8) Business Facilities - December 2008 - Corporate Moves: North Carolina (Page 9) Business Facilities - December 2008 - Gold Award: New Engine for Growth in Virginia (Page 10) Business Facilities - December 2008 - Gold Award: New Engine for Growth in Virginia (Page 11) Business Facilities - December 2008 - Gold Award: New Engine for Growth in Virginia (Page 12) Business Facilities - December 2008 - Silver Award: Tennessee Gets the Big Prize (Page 13) Business Facilities - December 2008 - Bronze Award: Enrichment in Idaho Falls (Page 14) Business Facilities - December 2008 - Honorable Mentions (Page 15) Business Facilities - December 2008 - Honorable Mentions (Page 16) Business Facilities - December 2008 - International Reach From America's Heartland (Page 17) Business Facilities - December 2008 - International Reach From America's Heartland (Page 18) Business Facilities - December 2008 - International Reach From America's Heartland (Page 19) Business Facilities - December 2008 - International Reach From America's Heartland (Page 20) Business Facilities - December 2008 - Supply Chain Priorities (Page D1) Business Facilities - December 2008 - Supply Chain Priorities (Page D2) Business Facilities - December 2008 - Supply Chain Priorities (Page D3) Business Facilities - December 2008 - Supply Chain Priorities (Page D4) Business Facilities - December 2008 - Supply Chain Priorities (Page D5) Business Facilities - December 2008 - Supply Chain Priorities (Page D6) Business Facilities - December 2008 - Supply Chain Priorities (Page D7) Business Facilities - December 2008 - Supply Chain Priorities (Page D8) Business Facilities - December 2008 - Supply Chain Priorities (Page D9) Business Facilities - December 2008 - Supply Chain Priorities (Page D10) Business Facilities - December 2008 - Supply Chain Priorities (Page D11) Business Facilities - December 2008 - Supply Chain Priorities (Page D12) Business Facilities - December 2008 - Supply Chain Priorities (Page D13) Business Facilities - December 2008 - Supply Chain Priorities (Page D14) Business Facilities - December 2008 - Supply Chain Priorities (Page D15) Business Facilities - December 2008 - Supply Chain Priorities (Page D16) Business Facilities - December 2008 - Metro Spotlight: Greenville/ Spartanburg, SC (Page 37) Business Facilities - December 2008 - Metro Spotlight: Greenville/ Spartanburg, SC (Page 38) Business Facilities - December 2008 - Metro Spotlight: Greenville/ Spartanburg, SC (Page 39) Business Facilities - December 2008 - The Magnolia State Has It All (Page 40) Business Facilities - December 2008 - The Magnolia State Has It All (Page 41) Business Facilities - December 2008 - The Magnolia State Has It All (Page 42) Business Facilities - December 2008 - The Magnolia State Has It All (Page 43) Business Facilities - December 2008 - A Real Estate Mega-Merger (Page 44) Business Facilities - December 2008 - A Real Estate Mega-Merger (Page 45) Business Facilities - December 2008 - A Real Estate Mega-Merger (Page 46) Business Facilities - December 2008 - A Real Estate Mega-Merger (Page 47) Business Facilities - December 2008 - A Real Estate Mega-Merger (Page 48) Business Facilities - December 2008 - State of the Year (Page 49) Business Facilities - December 2008 - Ask the Expert (Page 50) Business Facilities - December 2008 - Ask the Expert (Page 51) Business Facilities - December 2008 - Ask the Expert (Page 52) Business Facilities - December 2008 - Ask the Expert (Page 53) Business Facilities - December 2008 - Ask the Expert (Page 54) Business Facilities - December 2008 - Advertiser Index (Page 55) Business Facilities - December 2008 - Advertiser Index (Page 56) Business Facilities - December 2008 - Advertiser Index (Page Cover3) Business Facilities - December 2008 - Advertiser Index (Page Cover4)
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