PROPERTY MANAGEMENT ASSIGNMENTS ARE GETTING bigger these days, and they're taking on more of an international flavor. Take two of the major deals Chicago-based Jones Lang LaSalle won in the past six months. In late January, the company signed a contract to manage 16 million sq. ft. of space for Rockwell Automation, an industrial products company, in 40 different countries. Earlier that month, software giant Microsoft Corp. picked the company to manage 8 million sq. ft. of property, which includes offices in Africa and the Middle East.

“It substantiates our belief in the trend toward global, seamless outsourcing of management services for corporations,” says Earl Webb, CEO of Jones Lang LaSalle, Americas. “Companies are looking for ways to streamline real estate operations. They want the same level of service whether they're doing business in the U.S., South America, Europe or Asia.”

The company's ability to garner huge assignments — both nationally and internationally — has helped it retain its No. 1 spot on NREI's Top Property Managers survey, with 700 million sq. ft. of space under management in 2001. Dallas-based Trammel Crow Co. ranks No. 2 with 635 million sq. ft. of space.

In today's difficult economic environment, property managers are under more pressure to cut costs and enhance property values for their clients. “We're constantly bringing them new ideas on how to extract monetary value out of their assets and how to streamline their occupancy,” notes Webb.

In addition to showing its clients how to reduce the amount of office and other space they use, Jones Lang LaSalle is working to decrease its own operating costs by cutting back on its space needs.

“We are trying our best to reduce our cost of occupancy in various markets around the world by using our space intelligently,” he says. “We want to practice what we preach.”

The shaky economy is posing a challenge for Jones Lang LaSalle. In the first quarter of this year, revenues were $161.8 million, a decrease from $198.8 million one year ago. As of June 19, the company's stock price was $22.90, down from a 52-week high of $24.20. It's 52-week low was $12.50.

Despite the decline in revenues, Webb says the company has been able to maintain its profit level by restructuring its business, which included layoffs of about 750 employees, or 10% of its global workforce.

“We feel very comfortable that we've got a business model that can thrive in a stable market and really thrive in a growth market,” Webb says. “We've cut our costs in order to allow us to be very financially stable in the difficult economic climate we're in. Yet we've got a platform that we can build on very rapidly when the economy starts to turn around.”

In its effort to boost revenues, the company will focus on expanding its business both in the U.S. and overseas. “We are really focused now on gaining further momentum here in the U.S. in the key business center markets, as well as in the key money center markets around the world because that's where our clients are going.”

Top 25 Property Managers

The ranking of property managers is based on the total amount of space under management as of Dec. 31, 2001. To arrive at the total, the amount of space managed for outside clients and the total square footage managed for the property managers' own portfolios were added together.

1 Jones Lang LaSalle
200 E. Randolph, Chicago, IL 60601
Phone: (312) 782-5800
Fax: (312) 228-0360
Web site: www.joneslanglasalle.com
Officers: Earl E. Webb, CEO, Americas; Peyton H. Owen Jr., COO, Americas; Mark Rose, CFO, Americas
Total Space Under Management: 700 million sq. ft.
Total Space Managed For Outside Clients: 700 million sq. ft.

2 Trammell Crow Co.
2001 Ross Ave., Suite 3400, Dallas, TX 75201
Phone: (214) 863-3000
Fax: (214) 863-3138
E-mail: lraflowitz@trammellcrow.com
Web site: www.trammellcrow.com
Officers: Robert E. Sulentic, Chairman/CEO; H. Pryor Blackwell, President, Development and Investment Group; William F. Concannon, President, Global Services Group
Total Space Under Management: 635 million sq. ft.
Total Space Managed For Outside Clients: 635 million sq. ft.

3 CB Richard Ellis
355 S. Grand Ave., Suite 3100
Los Angeles, CA 90071
Phone: (213) 613-3333
Fax: (213) 613-3005
E-mail: info@cbre.com
Web site: www.cbre.com
Officers: Raymond Wirta, CEO; Brett White, president, CB Richard Ellis; Calvin Frese, COO, Americas
Total Space Under Management: 604.5 million sq. ft.
Total Space Managed For Outside Clients: 604.5 million sq. ft.

4 Colliers International
84 State St., Boston, MA 02109
Phone: (617) 722-0221
Fax: (617) 722-0224
Web site: www.colliers.com
Officers: Margaret Wigglesworth, president; Mark Burkhart, Chairman; Margaret Carlson, Sr. VP, Operations
Total Space Under Management: 442.1 million sq. ft.
Total Space Managed For Outside Clients: 442.1 million sq. ft.

5 Cushman & Wakefield
51 W. 52nd St., New York, NY 10019-6178
Phone: (212) 841-7500
Fax: (212) 841-7767
Web site: www.cushwake.com
Officers: Arthur J. Mirante II, President/CEO; Bruce E. Mosler, President, U.S. Operations; John C. Cushman III, Chairman
Total Space Under Management: 307.3 million sq. ft.
Total Space Managed For Outside Clients: 307.3 million sq. ft.

6 Insignia/ESG Inc.
200 Park Ave., New York, NY 10166
Phone: (212) 984-7116
Fax: (212) 984-8040
Web site: www.insigniaesg.com
Officers: Stephen B. Siegel, Chairman/CEO; Ronald Uretta, President/COO; John G. Combs, President, US Property Services
Total Space Under Management: 280 million sq. ft.
Total Space Managed For Outside Clients: 274 million sq. ft.
Total Space Managed For Own Portfolio: 6 million sq. ft.

7 Equity Residential
Two N. Riverside Plaza, Chicago, IL 60606
Phone: (312) 474-1300
Fax: (312) 454-8703
E-mail: investorrelations@eqrworld.com
Officers: Samuel Zell, Chairman; Douglas Crocker II, CEO; Bruce Duncan, President
Total Space Under Management: 248.4 million sq. ft.

8 ONCOR International
1747 Pennsylvania Ave. N.W. Washington, DC 20016
Phone: (202) 452-1852
Fax: (202) 452-1882
Web site: www.oncorintl.com
Officers: David A. Ball, President/CEO
Total Space Under Management: 226 million sq. ft.
Total Space Managed For Outside Clients: 226 million sq. ft.

9 Lincoln Property Co.
500 N. Akard, Suite 3300, Dallas, TX 75201
Phone: (214) 740-3300
Fax: (214) 740-3441
Web site: www.lincolnproperty.com
Officers: Mack Pogue, Chairman, Residential Division; Tim Byrne, President/CEO, Residential Division; Bill Duvall, President/CEO, Commercial Division
Total Space Under Management: 214 million sq. ft.
Total Space Managed For Outside Clients: 128.9 million sq. ft.
Total Space Managed For Own Portfolio: 85.2 million sq. ft.

10 The CORE Network
15150 Preston Rd., Suite 300
Dallas, TX 75248
Phone: (972) 980-3994
Fax: (972) 980-3993
E-mail: srickard@corenetwork.org
Web site: www.corenetwork.org
Officers: Scott Rickard, President; Perry Morita, VP; Mark Daniel, Director, Business Development
Total Space Under Management: 192 million sq. ft.
Total Space Managed For Outside Clients: 149 million sq. ft.
Total Space Managed For Own Portfolio: 43 million sq. ft.

11 Simon Property Group
115 W. Washington St., Indianapolis, IN 46204
Phone: (317) 636-1600
Fax: (317) 685-7270
Web site: www.shopsimon.com
Officers: Melvin Simon, Co-Chairman; Herbert Simon, Co-Chairman; David Simon, CEO
Total Space Under Management: 191.7 million sq. ft.
Total Space Managed For Outside Clients: 4.3 million sq. ft.
Total Space Managed For Own Portfolio: 187.4 million sq. ft.

12 RREEF
875 N. Michigan Ave., 41st Floor Chicago, IL 60611
Phone: (312) 266-9300
Fax: (312) 266-9346
E-mail: ctalmadge@rreef.com
Web site: www.rreef.com
Officers: Donald A. King Jr., Managing Principal, Acquisitions; Charles B. Leitner, Principal In Charge, Acquisitions; Robert J. Cook, Principal in Charge, Portfolio Management
Total Space Under Management: 185 million sq. ft.

13 ProLogis
14100 E. 35th Place, Aurora, CO 80011
Phone: (303) 375-9292
Fax: (303) 375-8581
E-mail: www.info@prologis.com
Officers: K. Dane Brooksher, Chairman/CEO; Irving F. Lyons, Vice Chairman/CIO; Walter C. Rakowich, Managing Director/CFO
Total Space Under Management: 182.4 million sq. ft.
Total Space Managed For Outside Clients: 36.6 million sq. ft.
Total Space Managed For Own Portfolio: 145.8 million sq. ft.

14 Grubb & Ellis Co.
55 E. 59th St. New York, NY 10022-1112
Phone: (212) 759-9700
Fax: (212) 326-4903
Web site: www.grubb-ellis.com
Officers: Barry M. Barovick, President/CEO; Mark R. Costello, COO; Ian Y. Bress, CFO
Total Space Under Management: 147 million sq. ft.
Total Space Managed For Outside Clients: 147 million sq. ft.

15 Equity Office Properties Trust
Two N. Riverside Plaza, Suite 2100 Chicago, IL 60606
Phone: (312) 466-3300
Fax: (312) 454-0332.
E-mail: terry.holt@equityoffice.com
Web site: www.equityoffice.com
Officers: Sam Zell, Chairman/President/CEO; Richard Kincaid, COO; David Helfand, CIO
Total Space Under Management: 137 million sq. ft.
Total Space Managed For Outside Clients: 2.8 million sq. ft.
Total Space Managed For Own Portfolio: 134.2 million sq. ft.

15 PM Realty Group
910 Travis St., Suite 1000 Houston, TX 77002
Phone: (713) 209-5800
Fax: (713) 209-5784
E-mail: jgunn@pmrealtygroup.com
Web site: www.pmrealtygroup.com
Officers: Rick V. Kirk, President/CEO; James C. Gunn, Exec. VP, Property Services; J. Ernest Johnson, Exec. VP, Corporate Services
Total Space Under Management: 137 million sq. ft.
Total Space Managed For Outside Clients: 137 million sq. ft.

17 Pinnacle Realty Management Co.
2801 Alaskan Way, Suite 200 Seattle, WA 98121
Phone: (206) 215-9700
Fax: (206) 215-9777
E-mail: marketing@prmc.com
Web site: www.pinnaclerealty.com
Officers: Stan Harrelson, President/CEO; John Goodman, Chairman
Total Space Under Management: 134.3 million sq. ft.
Total Space Managed For Outside Clients: 134.3 million sq. ft.

18 General Growth Properties Inc.
110 N. Wacker Dr., Chicago, IL 60657
Phone: (312) 960-5000
Fax: (312) 960-5475
Web site: www.generalgrowth.com
Officers: Matthew Bucksbaum, chairman; John Bucksbaum, CEO; Bob Michaels, President
Total Space Under Management: 122.8 million sq. ft.
Total Space Managed For Outside Clients: 34.5 million sq. ft.
Total Space Managed For Own Portfolio: 88.3 million sq. ft.

19 Duke Realty Corp.
600 E. 96th St., Suite 100 Indianapolis, IN 46240
Phone: (317) 808-6000
Fax: (317) 808-6786
E-mail: webmaster@dukerealty.com
Web site: www.dukerealty.com
Officers: Thomas Hefner, chairman/CEO; Gary Burk, Co-COO; Denny Oklak, Co-COO
Total Space Under Management: 116.2 million sq. ft.
Total Space Managed For Outside Clients: 8.6 million sq. ft.
Total Space Managed For Own Portfolio: 107.6 million sq. ft.

20 Transwestern Commercial Services
150 N. Wacker Dr., Suite 800 Chicago, IL 60606
Phone: (312) 499-1900
Fax: (312) 499-1904
E-mail: sara_o'donnell@transwestern.net
Web site: www.transwestern.net
Officers: Robert D. Duncan, Chairman; Steven D. Bandolik, President/CEO;
Total Space Under Management: 105 million sq. ft.
Total Space Managed For Outside Clients: 105 million sq. ft.

21 Hines
2800 Post Oak Blvd. Houston, TX 77056-6118
Phone: (713) 621-8000
Fax: (713) 966-2053
Web site: www.hines.com
Officers: Jeffrey C. Hines, President; Gerald D. Hines, Chairman; Hastings Johnson, Exec. VP/CFO
Total Space Under Management: 75.5 million sq. ft.
Total Space Managed For Outside Clients: 28.7 million sq. ft.
Total Space Managed For Own Portfolio: 46.8 million sq. ft.

22 Sentinel Real Estate Corp.
1251 Avenue of the Americas, 35th Floor
New York, NY 10020
Phone: (212) 408-5000
Fax: (212) 603-4964
E-mail: weiner@sentinelcorp.com
Officers: John H. Streicker, President/CEO; David Weiner, Managing Director; Millie Cassidy, Managing Director
Total Space Under Management: 75.4 million sq. ft.
Total Space Managed For Outside Clients: 75.4 million sq. ft.

23 Heitman
180 North LaSalle St. Chicago, IL. 60101
Phone: (312) 855-5700
Fax: (312) 855-5803
Web site: www.heitman.com
Officers: Jerome J. Claeys III, Chairman; Maury Tognarelli, President/CEO
Total Space Under Management: 69.7 million sq. ft.
Total Space Managed For Outside Clients: 69.7 million sq. ft.

24 First Industrial Realty Trust Inc.
311 S. Wacker Dr., Suite 4000 Chicago, IL 60606
Phone: (312) 344-4300
Fax: (312) 922-6320
E-mail: info@firstindustrial.com
Web site: www.firstindustrial.com
Officers: Michael W. Brennan, CEO/President; Johannson L. Yap, CIO; Michael J. Havala, CFO
Total Space Under Management: 69.1 million sq. ft.
Total Space Managed For Own Portfolio: 69.1 million sq. ft.

25 Forest City Enterprises Inc.
1100 Terminal Tower Cleveland, OH 44113
Phone: (216) 621-6060
Fax: (216) 263-6208
E-mail: tom_kmiecik@FCEINC.com
Web site: www.FCEINC.com
Officers: Albert Ratner, Co-Chairman; Samuel H. Miller, Co-Chairman/Treasurer; Charles A. Ratner, President/CEO
Total Space Under Management: 67.5 million sq. ft.